By Alana Semules | The Atlantic
The millions of foreclosures stemming from the Great Recession made for dramatic headlines. Now, the housing markets in many of the hardest-hit areas have recovered, and cities such as San Francisco, Los Angeles, and New York are even seeing record real estate prices. Yet while the national housing market may be well on the way to recovery, the markets in some areas of the country are actually getting worse, according to a new report out from the Center for American Progress.
The report indicates that there are still more than seven million homeowners who are underwater in America—that is, they owe more on their homes than the homes are worth.