Underwater Homes Decreasing
There’s some good news for homeowners out there. 600,000 borrowers got out of negative equity this year. That’s actually better news than you might realize.
We started off the 2nd quarter of 2012 with 11.4 million homes underwater. Now 3 months later we’re at 10.8 million. That’s a really drastic improvement. But here’s the best part – 85% of borrowers with negative equity stayed current on their payments.
This means that if people continue to invest in their homes, pay their bills, and generally pour their heart and soul into what they build, we should see prices continue to rise.
I know a lot of you are still struggling. Times haven’t gotten much better and there’s still loads to be done. But if we continue to work on improving our homes and our lives, we’ll continue to see the fruits of labors. So watch as home prices continue to rise and profits start to come back.