💰Homeowners are losing equity as home prices decline
📉Housing crash is real and expected to continue
🏘️1.2 million homeowners are underwater on their mortgages
🌃Housing downturn is bifurcated with prices down in some areas and up in others
📉🏢Decline in home prices driven by distress and forced selling
How many homeowners are currently underwater on their mortgages?
—According to CoreLogic, there are currently 1.2 million homeowners who are underwater on their mortgages.
Is the housing crash affecting all areas?
—No, the housing downturn is bifurcated, with prices down in some areas and still up in others.
What is driving the decline in home prices?
—The decline in home prices is driven by distress and forced selling.
Should homebuyers be cautious?
—Yes, homebuyers should be cautious to avoid buying at the peak and seeing their equity wiped out.
What is the outlook for the housing market?
—The housing crash is expected to continue as the recession deepens.
00:00Homeowner equity is getting wiped out in certain neighborhoods as home prices decline.
00:40The housing crash is real and expected to continue, causing more homeowners to go underwater on their mortgages.
01:10According to CoreLogic, there are currently 1.2 million homeowners who are underwater on their mortgages.
02:05The housing downturn is bifurcated, with prices down in some areas and still up in others.
03:31The decline in home prices is driven by distress and forced selling.
06:16Homebuyers should be cautious to avoid buying at the peak and seeing their equity wiped out.
09:39The housing crash is expected to continue as the recession deepens.
