Love those green arrows
More good news:
The amount of single-family homes with mortgages underwater, or in negative equity, dipped to 21 percent in the third quarter, down from 23 percent in the second quarter, as home values stabilized in the short term and more underwater homeowners lost their homes to foreclosure, according to the recent quarter’s Zillow Real Estate Market
Negative equity has been one of the biggest problems for homeowners, disqualifying many from home loan refinancing and preventing them from selling their homes.
OK, so 21 percent “underwater” is still absurdly high. But look at the green arrows pointing upward for the Boston housing market in this chart. It’s been said before and will be said again: Boston didn’t get hit nearly as hard as other cities. Check out all the red arrows pointing down for other metro areas.