The first brush: Almost a Quarter of U.S. Homeowners Are Underwater – stats were taken from a report by Zillow.com.
Barry Ritholtz clears things up a bit – in reality, 33% of Homeowners w/Mortgages Are Underwater.
Meanwhile, the luxury market is beginning to suffer like subprime did two years ago.
But, UK homeowners are getting a free pass, and a free mortgage.
There is no zero-rate for US home buyers (0% is reserved for the banks), but rates are at all time lows. Is it a good time to buy, or is the market just in the second inning of a long-term demographic shift?