Homeowner Equity

The Wall Street Journal reported last week that nearly one in four US homeowners (23%) owes more on their home mortgage than the property is worth – “nearly 10.7 million households had negative equity in their homes in the third quarter.”

Here in Kansas, the picture is decidedly less bleak, but still a serious concern, with 10.4% of homeowners with negative equity (29,824 out of 286,387 borrowers) and another 5.4% (15,518) with very nearly negative equity. Of course, the reverse side of these numbers is that 84.2% of all Kansas mortgage holders have equity in their homes – even without counting those among the 24 million homes nationwide that are owned outright with no mortgage debt. (For a graphic and chart comparing 43 of the 50 states, see In Deep: Underwater Borrowers.)

For a full review of the implications of these statistics for the prospect of swift economic recovery, positive as well as negative, see the article “One in Four Borrowers is Underwater.”

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Published in: on December 2, 2009 at 3:57 pm  Leave a Comment  

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