This is an incredibly high number. I will look for local Ventura County mortgage numbers to compare. In the meantime, this explains a good deal about the bankruptcy crisis, too. From MSNBC
A whopping 28.6 percent of homeowners with mortgages owe more on their loans than their homes could sell for, according to quarterly data released Tuesday by Zillow,
a real estate website. That's up from 26.8 percent in the second
quarter. Home values declined only 0.2 percent from the second quarter
but were down 4.4 percent year over year.
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