One In Three Chance You'll Soon Owe More Than Your House Is Worth

American dream, fxxx yeah!

He's wright

I live in Southeast Asia. What are the chances I'll be underwater? Zero. Property taxes are almost nil. So glad I left Poohville...

My neighbors just sold their condo for a healthy price. They said they had multiple people looking. Another unit in the community is also seeing heavy interest. At the end of the day, people need a place to live! Who cares whether I'm underwater in 2011. Tell me what my property will be worth in 5-10 years when I may want to sell. And by the way, where were these prognosticators 4 years ago when prices topped in a lot of markets? Given their inability to forecast the peak, it's highly unlikely the prognosticators on Wall St will be very good at predicting the timing and severity of the bottom.

When the Soviet Union collapsed, we apparently adopted their system. Why? Maybe it is some sort of economic death wish to which people succumb. Zimbabwe is the canary in the gold mine, by the way.

HE'S WRIGHT.NO JOBS NO HOUSE.

Yeah, bullshit.

This is pure speculation, misinforming and totally wrong - I hope if you are a large speculator and short trader like GS or Pimpco or DB you would be obliged to adhere to this advice. Too bad you can lie, call it news and free speech and get away with it. You almost know the truth is the opposite of this opinion - don't you see it where you live?

Gosh, what a stupid article. Fact is, EVERYONE who has a home mortgage in any economy will owe more than their house is worth. (I hope that wasn't too harsh.) For example, factoring in interest payments, the amount you owe on your mortgage doubles in twelve years at 6%. So if you take a mortgage on a $170,000 home, when all is said and done, you will have paid in more than $340,000. Double DUH!

Where do these wacko's come from anyway?

Housing is not part of the GDP so we can have a underwater recovery and not even know we are homeless.

OK. I have an issue here with the analysis. These are point in time type market snapshots of the values of real estate at any given moment based on prices that are driven low by a lack of transactions. Lack of transactions is driven by the tighter credit markets and at the moment the weak economy. However, if you own your house to live in and are not relocating due to a job change or selling due to other reasons like job losses then you may have a negative equity position ON PAPER. This only becomes important if you are going to sell or attempt to tap the equity. This is important to consider as it related to h what effect the "underwater" homeowners has on the overall economy.

If something bad in the mortgage market I hope it happens in the next 3 months.

Whew! I thought she would say Texas is next.

Gosh, what a stupid article. Fact is, EVERYONE who has a home mortgage in any economy will owe more than their house is worth. (I hope that wasn't too harsh.) For example, factoring in interest payments, the amount you owe on a 6% mortgage doubles in twelve years. So with a mortgage on a $170,000 home, when all is said and done, you will have paid in more than $340,000. Double DUH!

My house is payed for so now they raised my taxes SOBs.

Damn it you negative fear mongers. Stop all this negative reporting. Uberliberals are in total charge of the US now. From now on you in the Prada will only report that everything is fine and dandy, ignore the issues behind the curtain......if the plan continues the primary house will be paid off by 2011, thanks for the fiscal responsibilty education Mom & Dad.

Underwater by 2011? How about already underwater. I think I might need an rather large extension to my snorkel so I can breathe 4 feet down. Sad part is that everyone can see when I fart. I might even consider getting some scuba gear. At least that would stimulate the economy.

Do they Really need to write an article like this? Don't we know this? Must be a slow news day. Let's get back to the 24 Hour Michael Jackson death coverage................

Who cares! Our country is underwater right now!