Quick Reads »

December 26, 2017 – 12:52 pm | No Comment

This Week 7’s (12.14 – 12.31) Affirmation: Mindfulness – I will reach for mindfulness each day.
Date – 12.26.17
B-Book 44: Do the Work by Steven Pressfield
The key message in this book: Often we stop dead in our tracks …

Read the full story »
Mad Musings


First category I added when I started this blog many moons ago. I jot stuff here I can't otherwise categorize.

what the...?


The section you will see a swear or two in. Not that I am a big fan, but sometimes situation can't be helped

Not So Recent Reads


Here you will find books that I have read, reading or intend to read. More Recent Reads => CLICK HERE.

just Writing


I intend to use this area to catalog my writing journey and collect tidbits of information on the authoring process.

philosophy-religion


These are areas I am very much interested in. From time to time, as I am so moved, I free think here as well

Home » Money Matters

Underwater Mortgages to Skyrocket by 2011

Submitted by on August 12, 2009 – 7:07 am No Comment
MoneyMattersButton1-300x300

A new report by Deutsche Bank estimates that by 2011 nearly 50 percent of U.S. home owners with mortgages will owe more than their homes are worth.

This estimate of 25 million borrowers is significantly higher than similar calculations by other economic and real estate analysts. For instance, Moody’s Economy.com projected that 17.5 million will be underwater by early 2010.

Currently, about 26 percent of home owners choose to walk away from their mortgages because their equity falls short of what they owe, according to a report by Paola Sapienza, a finance professor with Northwestern University, and Luigi Zingales, a finance professor at the University of Chicago. Their report suggests that situation could worsen if the percentage of underwater mortgage holders increases.

Not everybody agrees with Deutsche Bank’s analysis.

Tom Lawler, a well-respected independent housing economist, wrote that given the recent increase in home sales in many areas, “there is absolute[ly] no doubt that the DB ‘model’ forecast will show a huge miss to the down side on home prices.”

Source: CNNMoney.com, Les Christie (08/06/2009) and The Wall Street Journal, Nick Timiraos (08/07/2009)

Word: This is really bad juju…not liking this at all! I am currently under water on one property.

Leave a comment

Add your comment below. You can also subscribe to these comments via RSS

Be nice. Keep it clean. Stay on topic. No spam.

You can use these tags:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong> 

This is a Gravatar-enabled weblog. To get your own globally-recognized-avatar, please register at Gravatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Pin It on Pinterest

Share This

Share this post with your friends!