Thursday, August 06, 2009

Underwater Mortgages To Rise in Wisconsin


The percentage of U.S. homeowners who owe more than their house is worth will nearly double to 48 percent in 2011 from 26 percent at the end of March, portending another blow to the housing market, Deutsche Bank said on Wednesday.

Well, maybe kinda, but OK, what else?

Regions suffering the worst negative equity are areas in California, Florida, Arizona, Nevada, Ohio, Michigan, Illinois, Wisconsin, Massachusetts and West Virginia. Las Vegas and parts of Florida and California will see 90 percent or more of their loans underwater by 2011, it added.

You mean the State governed by James Earl Doyle? The one that's overtaxed? The one which is losing industrial jobs and headquarters?

THAT Wisconsin?

Just co-incidence. Nothing to see here. Move along.

1 comment:

Neo-Con Tastic said...

I'm not really concerned with these statistics. There will be houses on both ends of the bell curve that will probably devalue however the median homes will probably float around their original pricepoints.

I stand by my original argument that Wisconsin home-buyers were more conservative with their dollars and won't be hit like other areas.