How had the negative equity situation, both at home and abroad, progressed the last few months?
Nearly 79 percent of mortgaged properties in Chicagoland are in positive equity, according to the latest Equity Report from CoreLogic.
That makes Chicagoland the fourth weakest mortgage market in the nation; only Phoenix, Tampa and Orlando have less healthy markets, based on data through 2013’s fourth quarter. Thankfully, Chicago’s situation could improve. Just 3.8 percent of mortgaged properties are near negative equity, and 3.3 percent are near equity, meaning they’re on the verge of entering positive equity.
How does Chicagoland’s market, though, compare to the rest of the nation? Our graphic below summarizes some of the main findings from CoreLogic’s report.