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.”

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

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