Q1 2016 Negative Equity Report: Rust Belt Overtakes Sand States as Nation’s Nest of Negative Equity
As negative equity overall continues to fall, the epicenter of underwater homeowners in the U.S. has shifted from the notoriously hard-hit – but quick to recover – Southwest and Southeast, to the long-suffering and sluggish rust belt states. The shift is reflective of a housing market that has evolved from one driven by largely temporary factors caused by the massive housing boom and bust, to one driven by more fundamental, traditional factors like job growth, supply and demand.
