Eugene David
...The One-Minute Pundit

Friday, October 31, 2008


Here's a charming figure: one in four mortgaged homes may end up "underwater".

Here's another:

Seven hard-hit states -- Arizona, California, Florida, Georgia, Michigan, Nevada and Ohio -- had 64 percent of all "underwater" borrowers, but just 41 percent of U.S. mortgages.

Two Rust-Belt states and five states in smiley-faced Mallopia. It's a wonder more people don't owe.

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