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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: John Vosilla who wrote (121269)5/7/2008 2:19:21 AM
From: Jim McMannis of 306849
 
More Than Half of 2006 Vintage Now Underwater, Zillow Says
housingwire.com
Published: May 6, 2008 Home prices posted their worst quarterly performance in over a decade during the first quarter, according to a report released Tuesday morning by real estate information Web site Zillow.com. More than half of those who purchased a home in 2006 now owe more on their mortgage than their home is worth, the company said — surely ominous news for mortgage execs fretting over the potential for so-called borrower “walk-aways
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