Subject: States with the Most Homes Underwater
The housing market is projected to improve in the coming years — albeit slowly. While the housing market in some states already may be improving, other states still have a long way to go before their housing markets recover. A CoreLogic report released this month says the number of underwater mortgages has declined from 12.1 million, or 25.2% of all mortgages, at the end of 2011 to 11.4 million, or 23.7% of all mortgages, at the end of the first quarter of 2012. Based on CoreLogic’s report on negative equity for the first quarter of 2012, 24/7 Wall St. identified 10 states with the most homes with underwater mortgages.
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The USPS shares some common factors with troubled cities and states. It is out of money and has no realistic alternatives.
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JON C. OGG
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