Posted by: phillipsre | May 22, 2014

Americans Still in Housing Debt

houseAccording the an article from Seattle Times, homeowners in America are still underwater in the home mortgagesNearly 10 million Americans remain financially trapped by homes worth less than their mortgage debts — an enduring drag on the U.S. economy almost seven years after the housing bust triggered the Great Recession. Unfortunately, because the homes are not worth as much when originally purchased, less people are selling there homes, which means that home buyers have less to choose from on the market and then when they find the house they want they bid the price up and have a bidding war. This also results in skewed pricing for the real estate market as well. For additional information and forecast on home values click here

 

 

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