Most Upside Down Home Owners Since Great Depression
February 23rd, 2008Via: ABC News:
It’s a real estate reality facing millions of Americans. Their homes are now worth less than what they owe on them.
Mark Zandi, chief economist of Moody’s Economy.com, said, “The last time we saw so many homeowners with so many home values that were worth less than the amount of mortgage they owed was back in the Great Depression.”
…
But those same economists we talked with today say this 10 percent figure — the 8 million people who are paying more than their home is worth — is only going to rise.
Posted in Economy | Top Of Page
“The last time we saw so many homeowners…was back in the Great Depression.”
Absolute numbers or by percentage? Makes a big difference. It’d be easy to match the number of homeowners in the Great Depression since America has so many more people now…
C’mon, basic math literacy Mainstream Media!