6 states=60% of those who are upside down: "Here's a shocker: almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth. Here's another: If you add in the homeowners like them in California, Arizona, Florida, Georgia and Michigan, together they account for nearly 60 percent of all homeowners who are ``underwater'' on their mortgages. Nationwide, almost one out of every five homeowners with a mortgage owes more to their lender than their properties are worth. According to a report released Friday by First American CoreLogic, if you subtract those states, the rate drops to about one in 10."
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And what percentage of those who are underwater are swimming in common interest housing's pool? The article goes on to quote Dr. Doom, Nourel Roubini, as saying that by the time the housing market bottoms out (you mean it hasn't, yet?), 40% of all owners will be upside down.