Tipsheet

Half of U.S. Homeowners Will Have Bad Mortgages

Jillian Bandes | August 06, 2009 10:00 AM

By 2011, 48% of homeowners in America will owe more than their homes are worth,according to new analysis by the Deutsche Bank. This means that a larger number of people will be incentivized to walk away from their homes and default on their mortgages. This sentence at the end is especially frightening:

Las Vegas and parts of Florida and California will see 90 percent or more of their loans underwater by 2011...