This Week
  • 3-D printing is revolutionizing the world.

  • The new edition of Explore Greater Rochester is here.

  • Re/Max Plus began with a single employee when it was founded in 2007.

  • Dean Jamal Rossi performs in a leadership role at the Eastman School of Music.

  • Sustainable features in residential properties are gaining popularity locally.

  • Arian Horbovetz finds what's great about a town and lets the world know.

Rochester ranks second best in underwater mortgages

Rochester Business Journal
August 24, 2012

Rochester ranks second best, behind Buffalo, in percentage of underwater mortgages, The Atlantic reports, using data released Wednesday by Zillow.com.

Rochester was 49th among the largest metro areas in terms of percentage of homes with underwater mortgages, or homes with mortgages with negative equity, at 13.2 percent. Buffalo ranked No. 50, at 12.3 percent.

That compares with No. 1 Las Vegas, where 68.5 percent of homes are underwater. No. 2 is Atlanta at 54.4 percent.

Most of the metro areas with the highest percentage fall in the Sunbelt—more than half of homeowners are underwater in Atlanta; Orlando; Phoenix; Riverside, Calif.; and Jacksonville, Fla.

According to the second quarter Zillow Negative Equity Report, 30.9 percent of U.S. homeowners with a mortgage are underwater—15.3 million people. Recent home value appreciation in many markets has pushed negative equity levels down from 31.4 percent last quarter.

(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google