This nice graph from Credit Sesame shows the percent of homes per state for which the value of the home is lower than the mortgage being taken on it. Since house prices started to fall many households came into problems because selling their house would mean going broke. This is called a negative equity.
Click on the graph for an interactive version.
It's sad that companies, for the sake of profit, just build houses basically everywhere. Urban planning is essential before any major construction.
ReplyDeleteI agree, information like these should be studied by whomever is responsible before project deployment. It's not like we don't have the tools to figure this out.
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