Almost a quarter of US mortgage holders owed more than their homes were worth in the second quarter and that figure may rise to as much as 30% by mid-2010 as job losses and foreclosures climb, Zillow.com said.
Homeowners are being hurt by price declines. The estimated median value for single-family houses slid to $186,500 in the period, a 12% drop from a year earlier and the 10th consecutive quarterly decrease, the Seattle-based real estate data service said in a report today.
bloomberg.com
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