Inquiring minds are reading the Business Insider about the 20 most underwater cities…and it is UGLY as can be.
The scariest number for anyone invested in or wants to invest in the real estate market is this: 23.2%. And as many know, negative equity is the prime factor driving mortgage holders into delinquency. These delinquencies lead to foreclosures, which drives down home prices, creating more negative equity — a very dangerous spiral-down condition.
Click on the link for the slide show to see the red-ink nightmare.
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