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44% owners stuck @ home.

By LarryPatrickMaloney follow LarryPatrickMaloney   2013 May 24, 2:02am 2,221 views   6 comments   watch   nsfw   quote   share    


http://www.thestreet.mobi/story/11933280/1/44-of-homeowners-with-a-mortgage-cant-sell-zillow.html?puc=yahoo&cm_ven=YAHOO

Despite a recovery in prices, over a quarter of homeowners with mortgage loans still owe more than their homes are worth. "But another 18.2 percent of homeowners with mortgages, while not technically underwater, likely do not have enough equity to afford to move," according to the blog post. 43.6% of homeowners have less than 20% equity in their homes. That makes it hard for them to move or trade-up, given the considerable costs involved in buying and selling a home, including the cost of a down payment for the next mortgage. This inability to sell is one of the big...

#housing

1   Oil Can   ignore (0)   2013 May 28, 1:41am     ↓ dislike (0)   quote   flag      

robertoaribas says

I expect sales to slow down, but prices to still keep increasing slowly over the next few years.

The prices always increase when the cost of borrowing goes up. Oh, wait....

2   david1   ignore (1)   2013 May 28, 1:47am     ↓ dislike (0)   quote   flag      

Oil Can says

robertoaribas says

I expect sales to slow down, but prices to still keep increasing slowly over the next few years.

The prices always increase when the cost of borrowing goes up. Oh, wait....

That is the trend actually. Interest rates don't increase in a vacuum.

3   APOCALYPSEFUCKisShostakovitch   ignore (52)   2013 May 28, 1:54am     ↓ dislike (1)   quote   flag      

Hahahaha! Assholes! Tear up the note, plant yams, train the kids and misses to kill with their hands and wait for the end!

4   Oxygen   ignore (0)   2013 May 28, 3:51am     ↓ dislike (0)   quote   flag      

"In regions particularly hard hit by the housing bust, including California, Florida, Arizona and Nevada, "there has been a negative equity feedback loop, as regions with high negative equity have experienced acute inventory shortages brought on in part by locked-in underwater homeowners, and these shortages in turn have produced home value appreciation spikes, which have been reducing negative equity at a fast pace," according to Zillow."

It's pretty comedic to see these things happen with a detached interest.

5   APOCALYPSEFUCKisShostakovitch   ignore (52)   2013 May 28, 4:00am     ↓ dislike (0)   quote   flag      

Funnier still when homeowners hold off starving cannibals on their front lawns with garden tools. A laugh riot. We need another tax cut and 14 more wars.

6   everything   ignore (1)   2013 May 28, 6:35am     ↓ dislike (0)   quote   flag      

I think this is probably pretty common in the ranges of 250-400k prices. Shortages are in the lower price ranges (100-200k), because anyone with a pulse can get a loan again, or rates are so low, people can even afford to fix up the place. Anything less than 100k just keeps getting flipped until the price is over 100k and someone finally gets stuck with it. I know prices can be different in other areas, that's just what it's like where I live.


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