According to Zillow, 27% of all homeowners are "underwater"--they owe more than the house is worth. Those with $1 Million+ mortgages are more likely to default.
Homeownership in the US has now fallen to its lowest level since 1998. More folks are choosing to rent rather than to buy. And the housing problem isn't going to turn around any time soon.
The Huffington Post set out to find out
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