The percentage of U.S. homeowners that owe more than their house is worth will nearly double to 48 percent in 2011 from 26 percent at the end of March as home prices continue to fall, Deutsche.
Half Of US Homeowners Will Be Underwater By 2011. About 75.5 million of these are homeowners. Approximately 68% of the 76 million, or 51.6 million, have mortgages. 14 million U.S. homeowners, 27% of those with mortgages, were underwater at the end of Q1 (DB estimates) DB estimates that nearly half of the 52 million mortgagors will be underwater by the end of next year.
Aug. 19 (Bloomberg) — Steven Abrahams, an analyst at Deutsche Bank AG, talks about the U.S. housing market, mortgage lending and the importance of improved U.S. jobs data for raising home values.
Deutsche Bank analysts Karen Weaver and Ying Shen said home price declines will have the biggest impact on prime conforming loans, which make up roughly two-thirds of all mortgages. Of these types of loans , 41 percent will be upside down by the first quarter of 2011, up from 16 percent at the end of the first quarter of 2009.
According to data from First American CoreLogic, about 15.2 million U.S. mortgages, or 32.2% of all mortgaged properties, were in a "negative equity" position in June 2009. More pessimistically, the expected percentage of "underwater" loans may rise to 48% or 25 million homes according to a study released by Deutsche Bank earlier this year.
The percentage of U.S. homeowners who owe more than their house is worth will nearly double to 48 percent in 2011 from 26 percent at the end of March, portending another blow to the housing market.
A recent report from CNNMoney.com cites a Deutsche Bank analysis that estimates "25 million borrowers, representing 48% of all Americans with mortgage loans" will owe more than their house is worth by 2011. Other estimates have been similar.
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(Newser) – Nearly half of US homeowners will owe more than their house is worth by 2011, Deutsche Bank analysts said yesterday, predicting that the number of such "underwater" mortgages.
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Housing Sinks: Bad Excuses Replace Skewed Metrics. Jun. 24, 2010 5:40 AM ET. as most of us have heard by. which suggests this percentage may rise to 48% through the first quarter in 2011..