10% of Washington mortgages are under water
Washington state is far from the top of the list of states with mortgages that are under-water (i.e. worth more than the value of the home). But we're catching up fast. According to the chart, 10% of all Washington state mortgages are under water, and an additional 3% of mortgages are right on the line.
It would be fascinating to see how this compares historically. Were there a higher percentage of under-water Washington mortgages back in the '70s?
http://www.calculatedriskblog.com/2009/03/more-on-negative-equity.html
It would be fascinating to see how this compares historically. Were there a higher percentage of under-water Washington mortgages back in the '70s?
http://www.calculatedriskblog.com/2009/03/more-on-negative-equity.html