Sunday, February 15, 2009

25% of Mortgages are Underwater in Southern California's San Diego County

As this graphic shows many of the area codes in San Diego County California are underwater (More is owed on the mortgage than what the property is worth). In many zip-codes between 20% to 50%+ of the homes are underwater.

This makes it very difficult to sell your house, and consequently you can expect further increases in short-sales, foreclosures and property price declines in San Diego County.

1 comment:

  1. I wouldn't be surprised if it was higher. In michigan, where I live, they are saying our property values have declined by 50%