The housing bubble must go on: 5,497,000 properties are still underwater. Number of equity rich.....
The housing bubble must go on: 5,497,000 properties are still underwater. Number of equity rich properties grows as well.
http://www.doctorhousingbubble.com/housing-bubble-goes-on-underwater-real-estate-equity/#more-9027
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The housing market has recovered nearly in tandem with the stock market. The stock market has been on a virtual nonstop bull run since early 2009. So people have forgotten about our recent financial history. While stock market investors and traders seem to be a bit more sophisticated, house humpers tend to live by the HGTV school of economics.
Back in 2012 you had 12.5 million underwater properties. That number has fallen to 5.49 million today. But that is the thing, you still have a large number of people that overpaid and yet somehow, Kool-Aid drinkers are trying to convince people to buy at the peak when there is clear evidence of those that over paid still out there today!
Take a look at this chart:
This is really interesting. While the number of underwater homes has decreased dramatically as property values have increased, you wouldn’t know that we still have 5.49 million underwater homeowners today based on the rhetoric we are now seeing. There is now this near uniform chanting that “housing is great” yet this is coming from those that perceive luck as investing acumen.
By far a big reason for this has to do with the lack of inventory:
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