Negative equity rates affect US homeowners
According to a new research, negative equity is still affecting more than one in 10 homeowners in the United States five years after the nation’s housing market recovery began.
The latest report from from real estate firm Zillow said that home owners who owe more than their homes are worth are nearly equally dispersed among urban and suburban communities in most metros across the country.
“ At its worst, negative equity touched all kinds of home owners in all kinds of markets. The type of community, a given home home was in, urban or suburban, mattered little. Fast forward a few years, and the relative vibrancy of a given community and how it has performed over the past few years, its location in the city or suburbs, matters a great deal,” said Zillow Chief Economist, Svenja Gudell.