Posts, Links and Thoughts From A Believer In Free Markets, Individual Responsibility, American Exceptionalism, A Strict Interpretation of the Constitution, The Right To Bear Arms and The Notion That More Government Can Only Make Things Worse
Wednesday, November 25, 2009
Negative Housing Equity By Vintage Year
When people have negative equity in their house, they are much more likely to default on their mortgage. More defaults obviously means more housing supply and further downward pressure on prices. Here is a look at negative equity by vintage year for mortgages. Basically, people who took out mortgages at the top of the housing market in 2006 are in trouble. From Clusterstock:
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