Friday, November 14, 2008

Bay Area Homeowners in Trouble

According to The SF Chronicle and, around 20% of California Bay Area homeowners have no equity in their homes:

Zillow's estimated prices are not 100% accurate (that's the nature of an estimate), but it's very hard to price houses in this market; therefore, Zillow might be the closest thing we have to getting what I call the "misery numbers."

Hat tip to Barry Ritholtz for linking to the SF Chronicle article first.

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