1 in 37 US homes are seriously underwater in Q1 2024, with 2.7% having loan balances 25% higher than market value; Southern states have higher shares.
1 in 37 US homes are considered seriously underwater, with 2.7% of homes having loan balances at least 25% higher than their market value in Q1 2024 (up from 2.6% in the previous quarter). Southern states have higher shares. The rate was more than twice as high before the pandemic, but has remained lower due to stimulus and rising property prices. Higher interest rates contribute to this trend.
May 09, 2024
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