Feb. 8 at 11:02 p.m.
Filed under:
Real estate
By Mary Ellen Podmolik
Almost two of every five owners of single-family, detached homes in the Chicago area were underwater on their mortgage in December, an all-time high and far outpacing national trends, according to data to be released by Zillow.com Wednesday.
The realty Web site found that 38.6 percent of all single-family detached homes with a mortgage had negative equity, meaning homeowners owed more on the homes than the properties were worth in the fourth quarter, compared with 32.9 percent in the third and 28.3 percent a year earlier. Nationally, the negative equity rate was 27 percent in the fourth quarter, up from 23.2 percent in the third quarter. Get the full story »
Nov. 10, 2010 at 12:01 a.m.
Filed under:
Housing,
Mortgages,
Real estate
By Mary Ellen Podmolik
A home with price reduction on the market in October. (Reuters)
The number of Chicago-area homes with negative equity in the Chicago area continued to rise in the year’s third quarter, a troubling sign for a local housing market struggling to recover.
Some 32.9 percent of all local single-family detached homes with mortgages were underwater in September, meaning the homeowners owed more on the loans than the properties are worth, according to new data from realty Web site Zillow.com. That compares with 30.9 percent in June and 27.2 percent in September 2009. The report does not include data on condominiums. Get the full story »
