One Third--Or More--of New Owners Owe More Than House is Worth

Recently, Zillow.com, the Internet provider of home valuations, asserted that many homeowners are delusional.Today, they have their 2Q 2008 Market Report, which has some not unexpected numbers (unless, of course, you're a delusional homeowner). Almost one-third of U.S. homeowners who bought in the last five years now owe more on their mortgages than their properties are worth, according to