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Housing data shows that we are in the long dark before the dawn

December 14, 2010

Corelogic released data today that the number of homeowners under water on their mortgage has decreased. Sounds like good news, but that is not the whole story.

As with most data, it is the underlying environment that contributes to the findings that are of importance. These numbers show less about home values than they do about remaining configuration of homeowners left. Since we have not seen major increases in value, the numbers really communicate that the worst off have lost their homes. With fewer homeowners left to sally forth, the numbers improved.

Source Marketplace on American Public Media – Read the transcript

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