An article today on MSBNC.com purports that nearly 1 in 6 US homeowners owes more on their mortgage than their home is worth. I imagine, like all real estate statements, it should be predicated with “Depending on where you live…”. In other words, your mileage may vary. I imagine that the ratio in Stockton is wildly different than someplace like Palo Alto.
So, completely unscientifically, here’s my own poll, to see what readers out there are feeling: