‘Seriously Underwater’ Home Mortgages Tick Up Across the US

Alex Tanzi
Wed, May 8, 2024, 11:01 PM CDT

(Bloomberg) -- Roughly one in 37 homes are now considered seriously underwater in the US and that share is much higher across a swath of southern states, according to data out Thursday.

Nationally, 2.7% of homes carried loan balances at least 25% more than their market value in the first few months of the year. That’s up from 2.6% in the previous quarter, according to the first-quarter 2024 US Home Equity & Underwater Report from ATTOM, a real estate data firm.

While the share of these homes is ticking up, it remains much lower than before the pandemic, when the rate was more than twice as high.

Mortgages can generally become seriously underwater when someone overpays for a home, or when it is purchased with a small downpayment that doesn’t provide a sufficient buffer if the property falls in value.

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https://finance.yahoo.com/news/seriously-underwater-home-mortgages-tick-040100261.html

A very interesting read.  They just don't make great sitcoms like the used to and in looking back I realize now when they stopped producing and airing great sitcoms I stopped watching television. Sitcoms for the most part were replaced with reality TV shows which I don't find entertaining.  I like sitcoms and documentaries.

At any rate, I was too young for the radio era and as a youngster "I Love Lucy" annoyed me, but I loved the "Honeymooners". So .... my four ...

Archie Bunker
Cheers
Friends
Jackie Gleason and the Honeymooners

As a side note;  you didn't consider "Everybody Loves Raymond", which was one of my favorites (I would delete "Friends" and replace it with "Everybody Loves Raymond").

 

The ol liberal 'misinformation' tag raises its ugly head...

Funny how partisanship only applies when the left gets their way.