18.9 Percent of Orange County Homeowners Underwater on Their Loans

Tim

I agree we do need to address the problems or they get bigger and bigger.

So many areas seem to be in such dire straits, Tim, and you're absolutely right - it takes focus on the problem to resolve it...not just an assumption that it will go away over time.

Tim ~ Hang in there, somethings got to give.

The problem in CA at this point (IMO) Tim is that those in charge seem to dwell on the trivial while ignoring the large elephant in the room. We need help growing our economy and creating jobs.

Tim, I do sympathize with those issues and to some extent share the same problems with my home in Illinois.  The market there is also a tough one.  Fortunately here in Alabama I believe we've turned the corner.  Houses are moving because the buyers are out picking up deal and taking advantage of the rates. Housing prices have also adjusted here, but we didn't have as harsh of an adjustment as CA, AZ, NV, or some of the eastern states where prices skyrocketed a few years ago.  Hope you see a light at the end of the tunnel soon and the powers that be focus on the real issues.

Tim, If only the government would truly help the homeowners and not the banks who are not helping homeowners the market would not be as it is today.

I have to agree with Kathleen, a focus on what's good for the people and not the business would serve this country well.

Tim - I must agree with the others on this one.  Problems just don't disappear or fix themselves.  Action has to be taken to help resolve the problem and get things back on track.  Wish I had that magic answer... I wouldn't be selling real estate I'd be rich! 

Tim that is a lot of homeowners and with price dropping it could get even worst;  Let's hope something gives.

Many of the underwater borrowers will eventually be okay as the market returns to more nomal levels.  Those that refinanced or got second mortgages to spend on things other than housing have to pay the price.