Zillow Mentioned on CNN

They said that over 50% of the people who bought during the peak of the housing market are now upside down in their mortgages.

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May 06 2008 - US
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Replies (3)

Profile picture for klarek the realist

I'm really surprised it's not more than that considering nobody was putting any money down.

 

Every single one of my friends is upside down/ in the red/  owes more than their house is worth.  Some bought in '04, some in late '07.

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May 07 2008

The quarterly home value reports they were referring to on CNN can be found here.

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May 07 2008
Profile picture for Waiting4Ever

yeah, i've got some friends in northern va

they bought 1 year ago, closed may 30

they're 40K+ under water

they went from looking for a bigger place to rent

to buying a house in a weeks time

so i didn't really have the chance to warn them

 

anyways

 

they should be ok in 10 years

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May 07 2008
 
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