18.9 Percent of Orange County Homeowners Underwater on Their Loans
18.9 percent of Orange County homeowners owe more on their loans than their homes are worth (underwater). This is almost one in 5. To some this is a difficult position. It is tragic. With about 1 in 5 people in California either unemployed or underemployed this condition is serious.
Most are looking for a silver lining and the positive news. I to want the positive news. It is difficult when thing are as bad as they are here. Little is done to help with building a job base or to help small businesses. Instead we have a state that is driving small businesses out of the area.
Prices continue to drop on homes and those that are selling are moving down in size or distress properties. It does seem that many believe that if they do not focus on the problem and do not give the situation energy it will go away. Life does not work that way.