THE calamitous financial situation of “negative equity” is when the mortgage on your house dwarves the value of the house itself. That has been the situation of American homeowners in aggregate since late 2007, according to “flow of funds” data from the US Federal Reserve.
via Daily chart: House party | The Economist.
DO YOU HAVE THE "WRITE" STUFF? If you’re ready to share your wisdom of experience, we’re ready to share it with our massive global audience – by giving you the opportunity to become a published Contributor on our award-winning Site with (your own byline). And who knows? – it may be your first step in discovering your “hidden Hemmingway”. LEARN MORE HERE