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U.S. housing market recovery just rescued 4 mln homeowners

Posted on 17 January 2013

In further signs of a U.S. housing market recovery, home prices are up - meaning a whopping 33% fewer homeowners are underwater. When the U.S. housing market bottomed out in 2008, nearly one in six homeowners owed more on mortgages than their homes were worth. That translated to 12 million underwater homeowners.
But the outlook has improved considerably. That’s because home prices, which peaked in 2007, rose 7.4% in November from a year ago, according to real estate firm CoreLogic. That’s the largest year-over-year increase since 2006, when the housing industry was nearing its peak………………………………………..Full Article: Source


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