Negative equity persists in today’s housing market, but its impacts are not equally felt in every price point.
Earlier this week, we reported on new findings by Zillow that a whopping 42.6 percent of Generation X mortgage holders are still underwater in 2014.
That was far from the only finding in Zillow’s Negative Equity Report for the second quarter, though, and below, we’ve put together a graph highlighting it’s other major finding – that homes in lower price points are disproportionally in negative equity, compared with homes in middle price points and especially higher price points.
See for yourself, and how it differs across different metro areas, in our graph below. Note: the specific numbers behind the various price tiers differ from metro area to metro area. For Chicagoland, the span: is $0 to $144,650 for the bottom tier; $144,651 to $265,400 for the middle tier; and $265,401+ for the top tier, while nationally, the averages are $98,700 for the bottom tier, $168,00 for the middle and $319,000 for the top.