Your English writing platform
Discover LudwigSuggestions(1)
Exact(6)
The prospect of further defaults was highlighted by figures showing one in six HBOS mortgage customers, around 17%, were in negative equity at the end of last year.
Its estimate comes very much at the lower end of the range implied by Halifax and Nationwide house price surveys, which suggests that between 870,000 and 1.18 million borrowers were in negative equity at the end of February.
Just under 7% of all American homeowners had this "negative equity" at the end of December 2006 estimates Mr Cagan, using a sample of 32m houses (see chart 1).
About 8.31 million properties had negative equity at the end of the year, up 9.0% from 7.63 million at the end of September.
There is wide regional variation, with 41% of borrowers in Northern Ireland - 68,000 homeowners - in negative equity at the end of 2013, the figures from mortgage group HML show, In north-east England and Cumbria the figure is 16%.
Perhaps a quarter of all home mortgages suffered from negative equity at the end of 2009 and another 5% looked headed that way, Barclays analyst Jason Goldberg wrote last week.
Similar(54)
Dady, a local councillor, is now one of millions across the country sitting on negative equity, as his house was last year revalued at £135,000.
Lucy Haughey of PlanBPartners, a social enterprise in Glasgow specialising in financial advice for charities, retirees and what she calls "the working poor", says negative equity is at epidemic levels.
Reproducing the analysis with the change in the treatment of missing data found that homeowners with negative equity are at least as mobile as those with positive equity, and that those with high levels of negative equity are particularly mobile.
Deutsche Bank's securitisation team expects negative equity to peak at 48% of total homes by 2011.
About one in five homeowners with a mortgage is underwater, and the total amount of negative equity is estimated at $700 billion to $800 billion.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com