Homes Below the 37th Parallel Most Likely to Have “Underwater” Mortgages

January 8, 2010 (Neilsonwire)

Today’s presence of underwater mortgages, or homes with negative equity, seem to be correlated to two common regional U.S. population trends: 1) domestic immigration from the Northeastern region to the South and Southwestern regions of the U.S., and 2) migration from coastal California inland.

During housing’s recent boom/bust years, an association has developed between slow growth-positive home equity markets and high growth-negative equity markets. Those markets that are well established and that have reached a stable population tend to be doing well when it comes to the home piggy bank. And those markets that have been a destination for millions of new homeowners have been left underwater.

Read about it…and see the map. Click Here