housing

Housing market continues its freefall as 14 million Americans descend into negative equity

Friday, November 11, 2011 by: J. D. Heyes
Tags: housing market, negative equity, health news

eTrust Pro Certified

Most Viewed Articles
Popular on Facebook
BACK INTO THE CLOSET: Why U.S. reporters are not allowed to write about rainbow events in nations where being gay is still condemned
Depopulation test run? 75% of children who received vaccines in Mexican town now dead or hospitalized
INVESTIGATION: Three days before Dr. Bradstreet was found dead in a river, U.S. govt. agents raided his research facility to seize a breakthrough cancer treatment called GcMAF
A family destroyed: Six-month-old dies after clinic injects baby with 13 vaccines at once without mother's informed consent
Biologist explains how marijuana causes tumor cells to commit suicide
BOMBSHELL: China and America already at war: Tianjin explosion carried out by Pentagon space weapon in retaliation for Yuan currency devaluation... Military helicopters now patrolling Beijing
Companies begin planting microchips under employees' skin
BAM! Chipotle goes 100% non-GMO; flatly rejecting the biotech industry and its toxic food ingredients
ECONOMIC SLAVERY FOR ALL: While we were distracted with the Confederate flag flap, Congress quietly forfeited our entire economic future via fast-track trade authority
McDonald's in global profit free fall as people everywhere increasingly reject chemically-altered toxic fast food
March Against Monsanto explodes globally... World citizens stage massive protests across 38 countries, 428 cities... mainstream media pretends it never happened
SCOTUS same-sex marriage decision may have just legalized the concealed carry of loaded firearms across all 50 states, nullifying gun laws everywhere
Vicious attack on Dr. Oz actually waged by biotech mafia; plot to destroy Oz launched after episode on glyphosate toxicity went viral
Nearly every mass shooting in the last 20 years shares one surprising thing? and it's not guns
Holistic cancer treatment pioneer Dr. Nicholas Gonzalez dies suddenly; patients mourn the loss of a compassionate, innovative doctor who helped thousands heal from cancer
Inuit Elders tell NASA Earth Axis Shifted
Wild eyes and bowl cuts: Why do mass shooters always share the same hair styles and crazed zombie stares?
Genetically white woman now claims self-identify as black: If you can choose your gender, can you also choose your race? What about your species? Can a human claim to be a llama?
Delicious
(NaturalNews) Owning your home used to be the "American Dream," but these days, for an increasing number of homeowners, it's more like the American nightmare. That's because since the Great Recession began in 2008, home foreclosures continue to climb while some 14 million Americans now find themselves with negative equity in their biggest investment.

According to real estate tracking firm Zillow.com, the number of homeowners posting negative equity rose from 26.8 percent just last quarter, to 28.6 percent now. That's a rise of nearly 2 percent in just a few months. Worse, the bleeding isn't expected to end anytime soon.

Part of the problem is the old economic axiom of supply and demand. There have been so many foreclosures and so many excess homes thrown into the market that the glut of homes combined with flat demand has begun to put downward pressure on all home prices and values, experts say.

And the issue isn't going away anytime soon. Continued high unemployment combined with stagnant wage growth and higher prices for commodities like food, energy and gas have made it harder for people who still have mortgages to make their payments. One report said the number of mortgage holders who were 60 days late or more on their payments rose in the third quarter for the first time since the final quarter of 2009. The increase surprised analysts, many whom expected that figure to fall.

So widespread is the problem that all but 10 states and Washington, D.C., saw an increase in delinquency rates. There are some areas of improvement. The housing markets of the hardest hit regions of the country in Arizona, Nevada, Florida and California, for instance, are beginning to stabilize and even improve. But obviously the problem is only getting worse for scores of millions of Americans.

Some analysts believe it could be a generation or more before the housing market returns to its former economically formidable state. It is an industry that fuels and supports an incredible amount of jobs. The fact that the housing industry is still depressed - and at the same time the unemployment rate isn't improving appreciably - is probably not a coincidence.

Follow real-time breaking news headlines on
Housing market at FETCH.news
Join over four million monthly readers. Your privacy is protected. Unsubscribe at any time.
comments powered by Disqus
Take Action: Support NaturalNews.com by linking back to this article from your website

Permalink to this article:

Embed article link: (copy HTML code below):

Reprinting this article:
Non-commercial use OK, cite NaturalNews.com with clickable link.

Follow Natural News on Facebook, Twitter, Google Plus, and Pinterest

Colloidal Silver

Advertise with NaturalNews...

Support NaturalNews Sponsors:

Advertise with NaturalNews...

GET SHOW DETAILS
+ a FREE GIFT

Sign up for the FREE Natural News Email Newsletter

Receive breaking news on GMOs, vaccines, fluoride, radiation protection, natural cures, food safety alerts and interviews with the world's top experts on natural health and more.

Join over 7 million monthly readers of NaturalNews.com, the internet's No. 1 natural health news site. (Source: Alexa.com)

Your email address *

Please enter the code you see above*

No Thanks

Already have it and love it!

Natural News supports and helps fund these organizations:

* Required. Once you click submit, we will send you an email asking you to confirm your free registration. Your privacy is assured and your information is kept confidential. You may unsubscribe at anytime.