Tuesday, August 12, 2008

Bloomberg.com: Worldwide

I think this means the housing bubble has burst...: "Aug. 12 (Bloomberg) -- Almost one-third of U.S. homeowners who bought in the last five years now owe more on their mortgages than their properties are worth, according to Zillow.com, an Internet provider of home valuations."
Zillow also says that almost one quarter of all US homes sold in the last year were sold at a loss.

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