Negative Equity More Widespread Than Previously Thought, Report Says

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Negative Equity More Widespread Than Previously Thought, Report Says

Negative Equity More Widespread Than Previously Thought, Report Says

I don’t see LPS mentioned in this article, does anyone know the numbers they revealed?

 

WSJ-

For the last year or so, real-estate listing and valuation service Zillow has been overhauling its methodology for determining how many homes out there are “under water,” meaning their owners owe more in mortgage debt to lenders than the value of their properties.

Today, it rolls out its new negative equity report, which shows, among other things, that nearly 16 million U.S. homeowners, or 31.4% of all homeowners with a mortgage, were under water in 2012. They owe $1.2 trillion more than the value of their homes.

And though the negative equity share has fallen since last year’s tally of 32.4% (Zillow also revised its data based on the new methodology going back five quarters), it’s still higher than previous negative equity estimates, including the most-commonly cited one, from mortgage-data firm CoreLogic.

[WALL STREET JOURNAL]

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One Response to “Negative Equity More Widespread Than Previously Thought, Report Says”

  1. Eve Aneron says:

    A glaring conflict of interest with Zillow is visible to anyone who cares to look. But this is the press, part of their job is to “mold” the truth.

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