In yesterdays Wall Street Journal there was an article titled “One in Four Borrowers Is Underwater” which stated that approximately 23% of all U. S. homeowners owe more own their mortgages than their house is worth. The percentage for California in the interactive graph in the article was 34.7% based upon just over 2.4 million mortgages. This was the fourth highest in the nation with Nevada at 65.0%, Arizona 47.9% and Florida 44.7%. The lowest percentage was Oklahoma at 6.1%. Makes one think there may still be a ways to go before we truly hit bottom in the real estate bubble.
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