5.2 million homes seriously underwater, up from last years 17,000 homes – study

5.2 million properties seriously underwater – study

Over 5.2 million properties in the US were seriously underwater in the first quarter, according to ATTOM Data Solutions, a premium property data provider.

A property is defined as “seriously underwater” when the property owner owes at least 25% more than the estimated market value of the property.

ATTOM reported 5,223,524 US properties were seriously underwater, up from last year’s 17,000-plus properties. The number of underwater properties recorded in Q1 2019 represented 9.1% of all properties with a mortgage nationwide, up from 8.8% in the past quarter but down from 9.5% in Q1 2018.

via MPamag.com 5.2 million properties seriously underwater – study