Art Is Ageless
The San Pedro River Arts Council is presenting an integenerational art show during Benson’s (AZ) "Christmas on Main Street" December 12. Click on the image for details.
November 29, 2009
Arizona Underwater
Arizona has the distinction of being number 2 in the nation when ranking the states by the number of homeowners who owe more on their home than its value. Unfortunately all we have is state data, no data for Cochise County.
Ruth Simon & James R. Hagerty of The Wall Street Journal wrote an article in last Tuesday’s edition outlining some of the numbers of "underwater" mortgages and the effect they may have on the housing market. Some of the salient points;
- 47.9% of the mortgages in Arizona have negative equity, second behind Nevada at 65%.
- Another 4.5% of the mortgages in Arizona are within 5% of having negative equity.
- These properties can slow recovery as they go into foreclosure and end up on the market with depressed prices.
- Over 40% of home owners who purchased at the housing peak in 2006 are now underwater.
You can also see a map of the United States here color coded for the percent underwater.
Don Grafues
Resource: The Wall Street Journal
Resource: The Wall Street Journal
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