Millions of U.S. Homeowners Still Under Water on Mortgages
- 9.1% are coming up short on equity a decade after bubble burst
- 713,000 owe lenders at least twice as much as home value
Photographer: Chris Rank/Bloomberg
This article is for subscribers only.
A staggering number of American homeowners remain under water on their mortgages a decade after the housing bubble burst.
Almost 4.5 million households -- or 9.1 percent -- owed more than their homes are worth in the fourth quarter of 2017, according to data firm Zillow, with an estimated 713,000 owing at least twice as much as their property’s value.