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    theatlantic:

    America’s Housing Trap: How Young Homeowners Lost Out by Buying

    Last week, the real estate researchers at Zillow released their report on underwater homeowners — those who owe more on their mortgage than their house is worth — for the second quarter of 2012. They estimate that 48 percent of mortgage borrowers younger than 40 are currently underwater. It’s 39 percent among those who are 20-24 years old; 48 percent for the 25-29 cohort; and 51 percent for the 30-34 demographic. Overall, they’re more likely to be underwater than middle aged and elderly owners, a result of the fact that many Millennials were buying at the peak of the housing boom.

    Read more. [Image: Zillow]

    134 notes
    1. gazetaoriental reblogged this from theatlantic and added:
      About Atlantic Magazine:
    2. monstafaith reblogged this from npr and added:
      oh man it’s
    3. wrench-wench reblogged this from npr and added:
      I love that the person who wrote this was one of the authors of that bullshit “I don’t get why young people aren’t...
    4. zzravizz reblogged this from npr
    5. tropicalaundromat reblogged this from theatlantic
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    8. purplevalkyrie reblogged this from klaatu
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    10. kimbanda reblogged this from npr and added:
      Mercy!
    11. benjaminldaniel reblogged this from npr
    12. bondandsoul reblogged this from upworthy
    13. an-infinite-life reblogged this from npr
    14. kevindrakewriter reblogged this from npr and added:
      Why are we so cheap? Oh yeah right our credit got gain banged by home and education loans.
    15. indhouse reblogged this from upworthy and added:
      A friend of mine has gone to saying that “home ownership” is a lie. It’s about owning people. Think!
    16. businessoutsider reblogged this from theatlantic
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    20. yourenotaloneinthis reblogged this from theatlantic
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