The Oregonian newspaper recently ran an interesting editorial on the number of homeowners who are now ‘underwater,’ meaning they owe more on their house than it’s worth. Nationwide, more than 1 in 4 homeowners is now ‘underwater.’
Perhaps just as interesting in that same editorial were two other remarks:
1. Home prices nationally have fallen for 57 consecutive months.
2. Portland logged one of the largest declines in home values from March 2010 to March of this year, falling 12.1 percent, sixth among the 25 largest metro areas tracked by Zillow and the largest drop of any city west of Chicago.
Willamette Valley News
