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South Florida cloud of foreclosures and negative equity

Corelogic’s report on the huge share of homes under water in South Florida helps explain the dearth of inventory of homes on the market in the region: Most homeowners are loath to put their house up for sale if it means having to pay out cash at the closing table to make up for the negative equity. (source infra)

South Florida still under a cloud of foreclosures and negative equity - Real Estate News - "Corelogic reported that 40.7 percent of the mortgaged homes in the greater Miami area and 39.3 percent of those in the greater Fort Lauderdale area remained underwater in the first quarter. That’s roughly double the national average of 19.8 percent of all mortgaged homes, according to the Irvine, Calif.-based real-estate data firm."

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