CoreLogic: Number Of Underwater Homes In Chicago Metro Area Rose Last Quarter

I keep hearing all these positive things about the U.S. housing market these days. But closer to home, bad news is still surfacing. CoreLogic, a leading residential property information, analytics, and services provider, released its Q1 2013 Equity Report this morning, and while nationally the news is good (from the accompanying news release):

Approximately 850,000 more residential properties returned to a state of positive equity during the first quarter of 2013, and the total number of mortgaged residential properties with equity currently stands at 39 million. The analysis shows that 9.7 million, or 19.8 percent of all residential properties with a mortgage, were still in negative equity at the end of the first quarter of 2013 with a total value of $580 billion. This figure is down from 10.5 million*, or 21.7 percent of all residential properties with a mortgage, at the end of the fourth quarter of 2012.

Locally, the equity report sucks.

CoreLogic found that as part of the largest 25 U.S. metropolitan areas, the percentage of mortgaged properties in negative equity in the Chicago/Joliet/Naperville, Illinois-area stood at 34.2 percent at the end of the first quarter.

Noting that this came out to approximately 519,000 homes, Chicago Tribune real estate reporter Mary Ellen Podmolik pointed out this morning on their website:

That compares with more than 511,000 underwater properties, or 33.7 percent of homes with a mortgage, at the end of December.

Meaning, around 8,000 more homes were underwater (more owed on the mortgage than the property’s value) quarter-over-quarter.

It will be really interesting to see the forthcoming CoreLogic Q2 2013 Equity Report, considering all the optimism I encountered about local housing market conditions while house-hunting these past few months.

You can read the entire CoreLogic news release on their website here.

By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Podmolik, Mary Ellen. “CoreLogic: Homes underwater increase in Chicago area.” Chicago Tribune. 12 June 2013. (http://www.chicagotribune.com/business/breaking/chi-corelogic-underwater-homes-20130612,0,723265.story). 12 June 2013.

Share

Tags: , , , , ,

Wednesday, June 12th, 2013 Housing
Survival And Prosperity
Est. 2010, Chicagoland, USA
Christopher E. Hill, Editor

Successor to Boom2Bust.com
"The Most Hated Blog On Wall Street"
(Memorial Day Weekend 2007-2010)

PLEASE RATE this blog HERE,
and PLEASE VOTE for the blog below:



Thank you very, very much!
Advertising Disclosure here. Ad captions last reviewed/updated 2/23/17.
ANY CHARACTER HERE
Freeze Dried Food PRESIDENTS' DAY SALE! 15% OFF EVERYTHING (coupon code- home page); Free Shipping (domestic orders). Review coming soon.
ANY CHARACTER HERE
Family-Owned & Operated in Chicago Suburbs! SAVE 10% OFF ALL ITEMS (promo code- home page); Free Shipping (U.S. orders) & Returns. Review coming soon.
ANY CHARACTER HERE
Buy Gold And Silver Coins U.S. GOLD (BULLION) COIN/BAR SALE!; 90% Junk Silver Sale; Secondary Market Silver Sale (1 oz. coins, 1 oz., 10 oz., & 100 oz. bars); World Gold Bullion Coins/Bars also on sale; Free Shipping on U.S. orders $99 and up (only $5.95 below $99!). BGASC reviewed HERE.
ANY CHARACTER HERE
BullionVault World's Largest Online Investment Gold Service taking care of $2 billion for over 65,000 users from 175 countries. BullionVault.com reviewed HERE.
ANY CHARACTER HERE
PRESIDENTS' DAY SALE! 1-WEEK EMERGENCY FOOD SUPPLY $17.76; SAVE 20% OFF ALL #10 CANS; Big Savings on "Deal Of The Day" page; Free Shipping on orders over $79. MyPatriotSupply.com reviewed HERE.
ANY CHARACTER HERE
bullet proof vestsWorld's First Bulletproof Baseball Cap only $129; Bulletproof Ceramic Plate (NIJ Level III Stand-Alone) only $169; Bulletproof Backpack/Messenger Bag Panel only $99. BulletSafe reviewed HERE.
ANY CHARACTER HERE
Survival Titles Save 20% Discontinued Title Sale- Savings up to 75% Off Original Price. Paladin Press reviewed HERE.
ANY CHARACTER HERE
This project dedicated to St. Jude
Patron Saint of Desperate Situations



happyToSurvive

Categories

 

Archives

RSS Chris Hill’s Other Blog: Offshore Safe Deposit Boxes

  • Related Reading: Harrods Safe Deposit Article On The Huffington Post Website
    While putting together the list of offshore private vaults offering safe deposit boxes/lockers for this blog’s sister site, I learned that two of the best-known department stores in the world- Harrods and Selfridges in London, England- provided this service. Yesterday, The Huffington Post website published a piece about Harrods Safe Deposit, which opened in 1896 […]
  • Thoughts On Safe Deposit Box Article By The Straits Times
    Yesterday I came across an article on The Straits Times (Singapore) website entitled “Time to part ways with safe deposit boxes.” Business editor Lee Su Shyan wrote Sunday: Growing up, having a safe deposit box symbolised financial adulthood, even more than scoring that exclusive credit card. But that’s not a view shared by many nowadays. […]
  • Next Degussa Numis Day To Take Place February 23, 24
    Speaking of numismatics this morning, Degussa, a leading international player in the precious metals world which also offers safe deposit boxes (for customers) at branches in Germany, Singapore, Spain, and Switzerland, has posted information about the next Numis Day (first blogged about here) at their Geneva and Zurich showrooms. From their website: The Next Numis […]
  • Related Reading: Precious Metals, Collectible Coins Have Shined In The New Millenium
    Just recently, I brought up a MarketWatch piece that focused on rare coins as investments. Collectible coins are often placed in safe deposit boxes for safekeeping. Today, I want to point out a February 2 article on the website of Numismatic News that analyzed the performance of precious metals against U.S. stocks from the end […]
  • Latest Offshore Safe Deposit Box Promotions
    Here are the latest limited-time specials from offshore safe deposit box facilities listed on this blog’s sister site (link included to web page where each promotion is displayed): Asia Titanium Safe Deposit Box (Kota Kinabalu, Sandakan, and Tawau in Sabah, Malaysia)- “Senior citizens 60 years old and above enjoy 25% off safe deposit box rental.” […]