Negative Equity

June 11, 2012, 1pm PDT
Prospective buyers in the recovering housing market are finding a much harder time than expected to purchase a home, as a shortage of good properties for sale drives cutthroat competition.
Los Angeles Times
March 6, 2009, 7am PST
About one out of every five homes in America is worth less than what is still owed on its mortgage. The highest rates of negative equity are in Nevada, Michigan, Arizona, Florida and California.