Subject: States with the Most Homes Underwater
The housing market is projected to improve in the coming years — albeit slowly. While the housing market in some states already may be improving, other states still have a long way to go before their housing markets recover. A CoreLogic report released this month says the number of underwater mortgages has declined from 12.1 million, or 25.2% of all mortgages, at the end of 2011 to 11.4 million, or 23.7% of all mortgages, at the end of the first quarter of 2012. Based on CoreLogic’s report on negative equity for the first quarter of 2012, 24/7 Wall St. identified 10 states with the most homes with underwater mortgages.
As always, here are the top major media headline summaries from WSJ, FT, Bloomberg and more. Today’s top analyst upgrades and downgrades were in shares of ANR, BSFT, CMS, D, ERIC, KBR, KCG, NWSA, POT, SIRI, SONS, DDD, USB and XEL. Here are the top rumors of the day, and the most important financial news affecting the markets today.
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The USPS shares some common factors with troubled cities and states. It is out of money and has no realistic alternatives.
More people older than 75 have foreclosure problems and aid is in short supply.
Barnes & Noble (NYSE: BKS) — still empty handed.
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