underwater mortgage

Performance Property Real Estate Question

How Many US Homes Are Still Underwater?

Q: Gerald, I keep hearing in the media that home prices are skyrocketing.  We bought our home at the height of the last market bubble in 2006 and I still don’t think we have any home equity.  How many US homes are still underwater? Monica, Las Vegas, NV A: Good question, Monica. As of the 1st quarter 2017, over 5 million U.S. properties, almost 10% percent of all properties, were considered seriously underwater. That number is down more than 15% from a year earlier but that’s still quite a bit of people who are underwater. Some areas, like the rust belt in the Midwest for example, tend to have a higher percentage of underwater properties than other areas of the […]

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