Business

These Are the Top 10 American Cities Sunk by Underwater Mortgages

Earlier this week, President Obama announced he would extend the mortgage refinancing program in an effort to provide relief to homeowners whose mortgages are worth more than the value of their homes. Nationwide, one in four homeowners with a mortgage—11 million households — has an underwater mortgage. The problem is even worse in some areas of the country.

Most of the cities on the list are in regions worst hit by the housing crash. These areas are all in California, Florida or the Southwest—all of which were booming housing markets before the recession hit. In the U.S., just fewer than 15 percent of homes were built in the last ten years. But in some of the cities on our list of highest underwater mortgages, that number is 25 percent and higher.

The high supply may have contributed to the sinking home values in those cities. In the case of Las Vegas, house prices have dropped by roughly 60 percent from peak pre-recession values, and they continue to drop to this day. In the cities with the most underwater mortgages, home prices have dropped by an average of 8.42 percent, and as much as 14 percent in the past 12 months.

To make matters worse, the employment situation in these metropolitan areas is in worse shape than in most of the country. This is partially the result of a once-booming construction industry that has since collapsed. Of the ten regions on this list, nine have an unemployment rate that is higher than the national average of 9.1 percent. Many of the regions have unemployment rates that are some of the worst in the country, such as Modesto and Stockton, California.

Using data obtained from housing data and analytics firm CoreLogic, 24/7 Wall St. identified the ten regions built around an urban center — core-based statistical areas — with housing markets that had the highest percent of homes with underwater mortgages. This data was compared to the number of sales of homes that had been repossessed, known as REO sales, and distressed sales (sales by homeowners who could not continue to make mortgage payments) for the same regions. Unemployment data was obtained from the Bureau of Labor Statistics. Data on homes built since 2000 was obtained from the U.S. Census Bureau.

These are the American cites sunk by underwater mortgages:

The American Cities Sunk by Underwater Mortgages10. Bakersfield-Delano, California
Pct. homes underwater: 48.75 percent
12-month home price change: -9.58 percent
Homes built 2000 or later: 21.1 percent
Unemployment: 14.4 percent (tied for 11th highest)

Nearly 50 percent of the homes in the Bakersfield-Delano metropolitan area are currently underwater. In the past 12 months, homes have lost nearly 10 percent of their value, much more since the housing market first collapsed. Distressed sales have accounted for more than half of total sales in the past year, likely because of the difficult economic conditions in the region. To make matters that much more difficult, the area has an unemployment rate of 14.4 percent, the 11th highest in the country.

The American Cities Sunk by Underwater Mortgages9. Lakeland-Winter Haven, Florida
Pct. homes underwater: 50.33 percent
12-month home price change: -4.59 percent
Homes built 2000 or later: 25.2 percent
Unemployment: 12.1 percent (30th highest)

The metropolitan area of Lakeland-Winter Haven is located in central Florida. Due in part to the development of retirement communities across the state, more than one in four standing homes have been built since 2000, compared to a national average of just 14.9 percent. Like most of the rest of the state, the region has been hit hard by the recession.

To date, more than half the area’s mortgages are underwater, over 21 percent of housing units are vacant, and a total of 35.06 percent of home sales in the past year have been distressed.

The American Cities Sunk by Underwater Mortgages8. Port St. Lucie, Florida
Pct. homes underwater: 50.89 percent
12-month home price change: -4.68 percent
Homes built 2000 or later: 25.2 percent
Unemployment: 12.8 percent (22nd highest)

Nearly 18 percent of the homes sold in the Port St. Lucie region in the past 12 months have been properties that were originally foreclosed upon. Just about 35 percent of home sales in the past year have been distressed sales. The region has an unemployment rate of 12.8 percent, the 22nd highest in the country, and a median household income of $41,346, nearly $9,000 lower than the national average.

The American Cities Sunk by Underwater Mortgages7. Vallejo-Fairfield, California
Pct. homes underwater: 53.29 percent
12-month home price change: -10.5 percent
Homes built 2000 or later: 14.1 percent
Unemployment: 11.6 percent (40th highest)

Despite the area’s exceptionally high median household income, the Vallejo-Fairfield metropolitan area’s housing market is suffering on all fronts. Home prices have dropped 10.5 percent in just 12 months. Just over 14 percent of homes in the area were built in 2000 or later. Additionally, 60.57 percent of total sales in the past 12 months have been distressed sales, the second greatest rate among metro areas on this list.

The American Cities Sunk by Underwater Mortgages6. Modesto, California
Pct. homes underwater: 53.30 percent
12-month home price change: -9.22 percent
Homes built 2000 or later: 18.3 percent
Unemployment: 16 percent (6th highest)

In the past 12 months, home prices in Modesto have dropped more than 9 percent, one of the contributing causes of the 53.3 percent of the region’s mortgages to be underwater. As proof of the high level of foreclosures that has occurred in recent years, more than 40 percent of last year’s home sales were properties that had been foreclosed upon by a lender and resold. Of the 372 areas considered by the Bureau of Labor Statistics, Modesto has the 6th highest unemployment rate in the country. At 16 percent, it is nearly double the national average.

See the top 5 here.

(Michael B. Sauter, Charles B. Stockdale/Becket Adams—24/7 Wall St./The Blaze)

Comments (87)

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  • oldschoolgreen
    Posted on October 31, 2011 at 3:34pm

    Have a lot of freinds in Modesto and Fresno. They tried for years to get me to move out there. They are all struggling now. Mostly because every time someone would mention re-fi they were jumping up and taking out the equity in their homes. Know a guy bought his home for 125K in 2001. Last time he re-fi’d it was for over 400K. Has a nice boat, and trailer. I have a paid off home. Ha ha.

    Report Post »  
    • Pontiac
      Posted on October 31, 2011 at 4:36pm

      I get tired of hearing about “sinking” or “falling” home values…
      They are not sinking or falling, they are “CORRECTING”.

      Report Post » Pontiac  
    • IntransigentMind
      Posted on October 31, 2011 at 4:49pm

      California, Nevada, and Florida. None of these surprise me.

      Report Post »  
    • lukerw
      Posted on October 31, 2011 at 7:16pm

      It was a… Big Money Pool… and people jumped in… Over Their Head… without evaluating the Currents and Depth!

      Report Post » lukerw  
    • libertyisfundamental
      Posted on October 31, 2011 at 9:46pm

      The problem is the bubble has crushed everybody including folks who didn’t over extend. I have two side by side lakefront rental homes in Winter Haven I bought in the mid-90′s from my grandparents at a very reasonable price. Still not upside down (barely), but keeping them rented now is very hard. The vacancy rate and unemployent in the area is just crushing everything. While I expected housing prices to correct because of the rediculous price increase, I was really unprepared for the complete collapse of the local economy. I’ve been steep negative cashflow for two years now. At some point, the well runs dry.

      I post this only to state, while I agree in large measure that this crisis is the fault of people buying homes they couldn’t afford, its come to the place its engulfing anyone who has bought in the last 20 years and those like me who intended to use rental income to assist in retirement. Hopefully I can ride it out, but it will take a while to absorb this enormous oversupply.

      Report Post »  
    • superman
      Posted on October 31, 2011 at 10:40pm

      Ha Ha??? In due time you will end up paying there loans and short falls. Their Californian ex-speaker and others like her will see to it. You cannot live a debt free life with a decent retirement when others are struggling. You must be taxed……………Know I ask you. What will you do about it?

      Report Post » superman  
    • c0mm0nsense
      Posted on November 1, 2011 at 2:34pm

      Yes, the market value has gone down 40 to 60%, but look at your Property Taxes! Have they gond down? B*stards.

      Report Post » c0mm0nsense  
  • packsack54
    Posted on October 31, 2011 at 2:40pm

    Where is George Bailey, the S&L collaspse of the 1980″s with the sell of the properties at bottom prices. Now housing collaspe with the market prices dropping below 1980 price range. How about all the adviser tell you to take seconds out of your home and invest in stock market. Or send your kids to high price colleges? Or take out money for cars , trips and pay off those CC. You fool’s that did do that to keep up with the Jones. Now all the Jones want you to bail them out.

    Report Post »  
  • smalldog
    Posted on October 31, 2011 at 2:33pm

    I wonder how many of those underwater mortgages were based on ‘liar’ loans? No income verification, no job, no credit check, no Social Security number?

    How many were due to fraud? How many have been in foreclosure for more than a year? Two years?

    I also have to wonder how many are already foreclosed and for sale at more than they are worth? Perhaps banks do want to write them down?

    Report Post »  
    • johnnyvaughn
      Posted on October 31, 2011 at 3:09pm

      I had so called “friends” get houses with no down and when the value went up they borrowed against the house and bought toys like quads, Harleys, motor homes. When the value of the house went down and they were upside down, they walked away. Of course they kept the toys. It didn’t bother me until they started whining about losing their house.

      Report Post » johnnyvaughn  
  • South Philly Boy
    Posted on October 31, 2011 at 2:32pm

    All thanks to the DemonCrats

    Report Post » South Philly Boy  
  • Fernyyy
    Posted on October 31, 2011 at 2:15pm

    Apparently the knotheads who put this one together have never heard of Detroit, MI. When the mayor wins election on a platform of promising to level at least 3000 (yes, three thousand) buildings and homes in his first administration and 10,000 by the end of his second, you know the housing market may be a bit off.

    Report Post » Fernyyy  
    • Spirit 72
      Posted on October 31, 2011 at 2:36pm

      Good point! Where is Detroit and/or some of its sub-suburbs?
      I guess when houses cant sell for $1 (cuz of property taxes due, city income tax, state income tax, and no jobs available).

      Report Post »  
    • Live_Free_orDie
      Posted on October 31, 2011 at 9:33pm

      Detroit is not a City….it’s a war zone!

      Report Post » Live_Free_orDie  
  • libertytreas
    Posted on October 31, 2011 at 2:06pm

    Warning the following video about Obama may be offensive to some viewers: http://www.youtube.com/watch?v=z6hvmWDYiCY&list=LLnfp1i0K9seL4JLsafp7CGA&feature=mh_lolz

    Report Post »  
    • tvr54
      Posted on November 1, 2011 at 8:15am

      Soooo true, I can’t wait till 2012, and we can sing bye bye Mr President that’s full of lies, and we can sing bye bye Mr President that‘s full of lies stole the people’s money and left us to dye, well this 2012 will be the day this President dies BYE BYE Mr President that’s full of lies.
      That’s all for now

      Report Post » tvr54  
  • thekuligs
    Posted on October 31, 2011 at 1:58pm

    WOO HOOO Las Vegas FTW baby!

    Please God move me away from here. The home prices were SO inflated. At least in CA you can have green grass and nice weather. Builders put half million dollar houses on plots the size if kitty litter boxes and people bought them. Now they are worth 90k and no one wants them because they can be picky now, and they don’t want to reach their arm out their window and touch another formally half million dollar home.

    Report Post » thekuligs  
  • steveh931
    Posted on October 31, 2011 at 1:29pm

    The CRA of 1977 (Community Reinvestment Act) was just the beginning of another Federal Government Beast supported by those that constantly scream discrimination. In order for our Banking system to survive, banks need to make sound decisions without rules and regulations imposed by the Federal Government. It’s quite simple, if you haven’t had a history of employment and a good credit rating over a set period of time, you haven’t proven you deserve a mortgage loan. The Federal Government over the last 16 years revised the CRA numerous times putting pressure on banks, credit unions and other financial institutions to loan to those unqualified and gave banks permission to invest more of their liabilities in the market, 25% more. Add to this the moral decay through innovation by those preaching over the internet, “Just Walk Away” and those that walked away from a home with a large mortgage for a smaller one before their credit scores fell and left the banks with the larger mortgage, the system is filled with fraud, I’ll stop here, nothing you haven’t heard before by many.

    Report Post » steveh931  
    • objectivetruth
      Posted on October 31, 2011 at 3:27pm

      Forgive me here.I wasn‘t aware that they started this in the 70’s.I kept thinking that is was the late 80‘s 90’s.There is a difference in an unconventional loan/morgage and a unsecured one.I was always under the impression that these laws were first enacted to allow unconventional morgages not completely do away with security/income qualifications.Seems someone didn’t get that memo.

      Report Post »  
  • 1791TR
    Posted on October 31, 2011 at 1:17pm

    Way to go California, how’s that progressive politics working out for you?

    Report Post »  
    • tksocal
      Posted on October 31, 2011 at 1:27pm

      What does that have to do with banks giving mortgages that they should not have?

      Report Post »  
    • Andreaweingarten
      Posted on October 31, 2011 at 1:56pm

      TKSOCAL – Were you not aware of the Dodd-Frank Bill that FORCED banks to do “sub-prime” mortgages? Check out Maxine Waters on Youtube yelling that not voting against this bill would be racist. All of our economic issues are government-inflicted. Sad!

      Report Post »  
    • Channel3
      Posted on October 31, 2011 at 4:26pm

      A major part of the problem was the epidemic re-financing of homes during the market peak in order to pay off credit cards, remodel, refurnish, buy a boat, buy a R.V. etc…

      It was probably more short sighted materialism than politics.

      Report Post »  
    • getalong
      Posted on October 31, 2011 at 7:43pm

      TKSOKO What does that have to do with banks failing”?

      Because if it was not for the progressive politics of Clinton, Pelosi, Frank, something may have been done to divert the problem, instead Clinton’s progressive dream that everyone in American should have their own home gave way to federal penalities if banks did not give out risky loans. That is the connection. Even after Bush went to Pelosi and Frank in 2003 and asked them to get control of what was happening in the housing market progressive Pelosi refused.

      Report Post »  
    • seldomscene
      Posted on October 31, 2011 at 8:37pm

      tksocal…Maybe the suckers should not have applied for the loans. Sucker born every day???

      Report Post » seldomscene  
  • gmoneytx
    Posted on October 31, 2011 at 1:04pm

    I got out of vegas in Jan 2006, sold our last home there and made 100 grand! 3 months later POP goes the bubble!

    Guess GOD is watching out for us!

    Report Post » gmoneytx  
    • so3
      Posted on October 31, 2011 at 1:22pm

      So I guess God really is mad at me….thanks…

      Report Post »  
  • ModerationIsBest
    Posted on October 31, 2011 at 12:42pm

    We’re number 2, we’re number 2!

    Report Post »  
    • raiderglenn
      Posted on October 31, 2011 at 12:55pm

      #3 here… but it doesn’t bother me 1 bit personaly.

      The only effect its had is my property taxes have been cut in half! since I’m not selling my house any time soon, I’m getting a benifit from it all for now.

      OK, there is 1 draw back… there are 2 forclosed houses on my street that became section 8 housing, the kids living in them have to be some of the rudest 5 – 8 year olds I’ve ever seen.

      Report Post » raiderglenn  
    • Todd94590
      Posted on October 31, 2011 at 4:24pm

      that has happened to one home on our block, too. Certainly don’t want to insinuate that the folks living there now otherwise would not have been able to afford the neighborhood, but…

      And not looking forward to all of the trick or treat crowd: the neighborhood is nice enough compared to the adjoining neighborhoods, all the kids (and teenagers) gravitate to us. It numbers close to 1000 year after year. Momma & I are tired of it this year, the lights will be off, we shall be at the theater eating popcorn.

      We pray to return to an egg-free home.

      Report Post »  
  • KidCharlemagne
    Posted on October 31, 2011 at 12:38pm

    Should have listened to Ron Paul on September 10, 2003:

    “Ron Paul Calls the Housing Collapse in 2003”
    http://www.youtube.com/watch?v=9S3lXDOQ7ec

    Report Post »  
    • RidingOnaPig
      Posted on November 1, 2011 at 12:09am

      Ron Paul = in the pocket of special interests liar. Look into his connections and someone take him to Area 51 and show him there are no aliens there, that way he’ll just go away.

      Report Post »  
  • Todd94590
    Posted on October 31, 2011 at 12:33pm

    being # 7 on this list, what to say…. yea? …no….

    .. sigh.

    Report Post »  
  • EJames439
    Posted on October 31, 2011 at 12:25pm

    @ cessna152: Go back to occupying Wall Street….really!…where ignorance has shed its purposeful light on the common ground of useful idiots.

    Report Post » EJames439  
  • elihu
    Posted on October 31, 2011 at 12:17pm

    Wait…wait. I don‘t remember anyone forcing these people to ’upgrade their standard of living’ by purchasing a home that was priced beyond their reach. In fact, as I recall, it was kind of a carnival atmosphere all over the country with people giddy about ‘flipping homes’, etc. I for one, didn’t bite on the offers. Why in the world should they get ‘gubmint assistance’ now (of course being paid by the taxpayers who have made better decisions)? The whole world seems to be going crazy….

    Report Post » elihu  
  • enderwiggen
    Posted on October 31, 2011 at 12:14pm

    I’ve had my house repossessed, it wasn’t fun. That said, it was my fault. I had not set aside funds for anything but good times. Good times don’t always roll. I was considerably more careful this time. I feel bad for the folks who owe more than their house is worth, but if you are living in it why does it matter? If you can‘t pay for it then it’s time to downsize. I didn’t like it, but I lived through it. Is life supposed to be pain free?

    Report Post »  
    • Jabber
      Posted on October 31, 2011 at 12:35pm

      Your post was the most refreshing, honest, brave, and patriotic thing I’ve read in a long time. A lesson learned without finger-pointing or scapegoating….a strange concept in today’s world.

      I’m sorry to hear about your loss and I wish you nothing but the best in the future! Thanks for sharing your story. It gives me hope in the human race. :-)

      Report Post »  
    • jakartaman
      Posted on October 31, 2011 at 12:56pm

      Very mature post – Good luck to us all

      Report Post »  
    • rubydee
      Posted on October 31, 2011 at 3:45pm

      ENDERWIGGEN. I feel your pain. My husband and I just made the hard decision to leave our house. We too did not plan enough for the future, wasted too much money (no toys though) and now we pay the price. We lost 200,000 on it and now we are underwater. We blame no one but ourselves for the mess we made. We have tried for two years to to make it work and have failed. We live on 15 beautiful acres but cannot afford the upkeep anymore. It is breaking my heart but we must go. I went back to school and graduated in 2008 and still no job. Believe me, that didn’t help our problem. I refuse to blame myself for this one though. I did not personally cause the collapse of our economy. I went back to school to better our financial situation. Ha ha, the joke was on me. Everything else, blame is squarely on our shoulders.

      Report Post »  
  • TxMadMac
    Posted on October 31, 2011 at 12:11pm

    Walk away from ‘em people. Frank & dobbs should be given life in prison for what they have done to this country.This just shows how many evil Americans, and where they live, support these kinds of politicians ! Any support to their states should be defunded. We know how you vote and your agenda for America. It concurs with our current president and his administration. Your judgement awaits !

    Report Post »  
    • jhrusky
      Posted on October 31, 2011 at 1:45pm

      Walk away? Stick the taxpayers with the mortgages?

      You are quite obviously an irresponsible piece of crap.

      Report Post » jhrusky  
  • SpankDaMonkey
    Posted on October 31, 2011 at 12:06pm

    .
    It’s our fault. We elected these morons, and kept electing them. And we just now figured out we’re screwed. What a country…………..

    Report Post » SpankDaMonkey  
    • GhostOfJefferson
      Posted on October 31, 2011 at 12:53pm

      Um…

      I haven’t voted for these people. In fact I’ve opposed them, and their looter laws and regulations, at every opportunity. I accept no responsibility for what is happening now, I’ve fought it tooth and nail along the way, many times even coming at odds with so called conservatives.

      Report Post » GhostOfJefferson  
    • Nlitend1
      Posted on October 31, 2011 at 2:09pm

      “I haven’t voted for these people. In fact I’ve opposed them, and their looter laws and regulations, at every opportunity. I accept no responsibility for what is happening now, I’ve fought it tooth and nail along the way, many times even coming at odds with so called conservatives.”
      I haven’t laid off these people and sent their jobs to low paying countries. In fact I’ve opposed them, and their corporate greed, at every opportunity. I accept no responsibility for all the jobs sent overseas, the corporate tax kickbacks they received, and the toxic waste they dumped in my lakes and poisons they put in the air. I’ve fought it tooth and nail along the way, many times even coming at odds with my employers and the corporations in my state.

      Report Post »  
  • cessna152
    Posted on October 31, 2011 at 11:49am

    This is the fault of evil Christians and the free market. Government has nothing to do with this at all!!!

    (SARC)

    Report Post » cessna152  
    • TheePolitinator
      Posted on October 31, 2011 at 11:54am

      No you are wrong…. It’s Bushes fault remember?

      Report Post » TheePolitinator  
    • Bum thrower
      Posted on October 31, 2011 at 12:14pm

      Right; and to help you guys out, I have some bargain investment property….CHEEEEEP….easy to get to when the tide is out!!! finance 250% of the value and the government will guarentee the loan!! Helluva deal! almost as good as a ‘green energy’ loan guarentee…..

      Report Post »  
    • EJames439
      Posted on October 31, 2011 at 12:18pm

      Go back to Occupying Wall Street – CESSNA152….really!…where ignorance has finally surfaced with a purpose with its useful idiots.

      Report Post » EJames439  
    • 13th Imam
      Posted on October 31, 2011 at 12:38pm

      Mr James, Cessna has been a long time conservative blazer. He was being sarcastic, look elsewhere for useful idiots.

      Report Post » 13th Imam  
    • chazman
      Posted on October 31, 2011 at 1:07pm

      @CESSNA152

      …it might help if you spell out the word ‘Sarcastic’ from now on, just so that those dimwits in the audience get where yer coming from … or don’t. We know where you stand! TEA!

      Report Post »  
    • Uncurable wound
      Posted on October 31, 2011 at 1:19pm

      .
      Wont somebody please think of the children!!!
      mrs reverand Lovejoy….good times man,good times!

      Report Post »  
  • olddog
    Posted on October 31, 2011 at 11:48am

    Schumer, Dodd, FRANK, Pelosi and Reid have taken down America..With the help of Freddie and Fannie..

    Report Post » olddog  
    • decendentof56
      Posted on October 31, 2011 at 12:15pm

      OLDDOG…..
      Yes, all of those things, and more.
      All the jobs lost overseas.
      All the jobs lost to Mexico.
      People who got greedy by speculating in the real estate market.
      Yes, and to a degree, banks willing to loan based on that speculation.
      Definitely the trade agreements have been the most devastating, in my opinion. The housing market would have corrected itself, eventually, if we had the manufacturing base and associated jobs.
      Still…. Fannie and Freddie forcing bad loans as co-conspirators in the social-justice crowd did major damage.

      Report Post »  
    • JimL
      Posted on October 31, 2011 at 12:30pm

      This is a catch and release financial stream?

      Report Post »  
    • Lantern
      Posted on October 31, 2011 at 1:25pm

      Don’t forget their buddy Franklin Raines who advised Obama on mortgage and housing policy.

      Report Post » Lantern  
  • Pardawg
    Posted on October 31, 2011 at 11:46am

    Your home is an investment… you win some and you lose some. There are no guarantees in life. I sold a home for a loss several times… I’ve also made money on a couple.. just the way it is. We can’t bail out everyone who makes a bad investment..where would it stop?

    Report Post »  
    • NeverSurrender
      Posted on October 31, 2011 at 12:16pm

      Pardawg….Where did you get this? “Your home is an investment”

      No it is not. A home is an expense and is listed as an expense on every single balance sheet there is. The only way a home is an investment is if you rent it out. If you do not rent it out then it is a living expense. There is a possibility you may be able to sell it for more than you paid several years down the road, but the usual home value increase (after deducting 2000-2006) is around 3% a year. A better investment would be to put the 200k you would pay for the home in the stock market for 30 years and rent.

      Report Post »  
    • GhostOfJefferson
      Posted on October 31, 2011 at 1:00pm

      Whomever told you that your home is an investment lied to you.

      You can turn around a home quickly (within 5 years) and come out with a profit. Those days are mostly over though. If you live in your home for a full 30 years and pay off the note, you’ve most likely paid at least 3 times the value of your home in that time. In order to recoup that money as an “investment” you‘d have to calculate the full payment value in today’s dollars and then come out ahead of paying 300% of that value, again, in today’s dollars.

      You’ll get a better return over time investing in a 1% certificate of deposit most of the time. Hell, most of the time you‘re so far at a loss that it’s stunning.

      My home is an investment of course, in my family as the place where our family memories are made. Monetarily, not so much.

      Report Post » GhostOfJefferson  
    • NewLeaf
      Posted on October 31, 2011 at 1:12pm

      NeverSurrender/GhostofJefferson:

      Huh? Of course a home is an investment. Real Estate is another asset class. You may think it is a bad investment, but it definitely qualifies as an investment.

      Report Post »  
    • Cat
      Posted on October 31, 2011 at 3:35pm

      Pardawg
      Hint …

      The improvements are not an investment
      It’s the land beneath
      That’s what they’re after

      Report Post » Cat  
    • objectivetruth
      Posted on October 31, 2011 at 3:38pm

      Your house is a long term asset and investment.How much you would stand to make is based on purchase price, type of morgage and lenght of time owned.
      Yes its still cheaper to have a morgage than to rent.Both short and long term.Hey I know its tempting to state that you’d put all that money into alternative investments.Unfortunately most wouldn‘t and y’all know it.If you are that disciplined and make that much. kudos to you.

      Report Post »  
  • The_Almighty_Creestof
    Posted on October 31, 2011 at 11:45am

    Why do we always have to go to some other site to see the full lists? Risking spyware, adware and keyloggers?

    Report Post »  
  • jb.kibs
    Posted on October 31, 2011 at 11:44am

    neat.

    Report Post »  
  • Detroit paperboy
    Posted on October 31, 2011 at 11:44am

    Thank you Mr. Federal govt…. This is of your making. PERIOD

    Report Post »  
  • netmail
    Posted on October 31, 2011 at 11:44am

    And social security is officially broke today too. “Is that DNA test back on that pubic hair on a coke can yet??” Our priorities are set by TMZ so we’re definitely in for a REAL shock soon when all of our lives are literally transformed overnight.

    Report Post »  
    • Detroit paperboy
      Posted on October 31, 2011 at 11:56am

      @netmail
      Your correct , much like when the Soviets fell, it came without warning, our own CIA didnt even see it coming….. It will collapse under the weight of the cost of our socialist programs… Not bexause of capitalism, just like the soviets….. Because of socialism/communism

      Report Post »  
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