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How Many Mortgages are Underwater in Your State?

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By Barry Ritholtz - November 17th, 2011, 11:21PM

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Credit Sesame

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Category: Credit, Digital Media, Real Estate.

Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

6 Responses to “How Many Mortgages are Underwater in Your State?”

  1. FT Alphaville » Further reading Says:
    November 18th, 2011 at 3:21 am

    [...] Under the (mortgage) sea. State by [...]

  2. rktbrkr Says:
    November 18th, 2011 at 7:39 am

    2M mortgages underwater in FL – thats an astounding number. Thats 2M people/families who are pinned down by debt, can’t move without a short sale agreement etc. In the comments a homeowner mentioned she was renting her home , keeping current but the rent was a lot less than the monthly payment. People can’t continue doing that forever and if prices decline further they will just throw in the towel.

    Meanwhile Miami area highrise developers are back with proposals for about 8000 new highrise units, most of the boom inventory of 25K has been sold (a lot of bulk sales between developers).

  3. DebbieSmith Says:
    November 18th, 2011 at 7:50 am

    Here is an article showing just how underwater average American households are:

    http://viableopposition.blogspot.com/2011/06/how-underwater-are-american-households.html

  4. NoKidding Says:
    November 18th, 2011 at 8:36 am

    Numbers in chart key for color-coding do not line up with the state-by-state pop up data. Small differences, so either way its bad news.

    The risk to rktbrkr’s developers is getting higher. Eventually there will be prosecutions. We are probably building a time buffer between the 2007 criminal wave, some smart enough to walk away cleanly, and the ones still going in 2010. The final big players in the game will either own Florida or see jail time. It probably depends on their campaign-donor-to-alimony-ratio as much as anything.

  5. rktbrkr Says:
    November 18th, 2011 at 8:51 am

    This seems like a good time to reflect back on Jim Cramers housing bottom call of 2009.

    http://www.huffingtonpost.com/2009/06/03/jim-cramer-buy-a-house-no_n_210768.html

  6. EMichael Says:
    November 19th, 2011 at 10:25 am

    I would love to know how many of the underwater properties are investment properties or “second homes” that are in reality investment properties.

    Anyone know how to get that information?

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