This is pretty funny . . . . in a desperate, hand-wringing kind of way:
More than 30% of U.S. homeowners who bought in the past two years owe more on their mortgage than their house is currently worth, a housing market research company said on Tuesday.
The housing market peaked in most U.S. markets in the past two years. Of home buyers in 2006, 39% of those with a median 10% down payment now have negative home equity similar to 30% of those who purchased in 2007, said online company Zillow in its quarterly home value report.
Overall, only 3% of those who purchased in 2003, and less than 1% of all homes in the United States regardless of when they were purchased, have negative equity.
http://www.financialpost.com/story.html?id=303418
Of course, it could also mean that 70% of those who bought in the last two years have positive equity in their homes.
And it doesn't appear to change the stat that less than 1% of all USA homes have negative equity.
Cowperson