"Effective Negative Equity" - The Charlottesville Area Housing Market Could Stagnate For Years Because Buyers and Sellers Can't "Move Up"

On Monday, the bad news came from Core Logic: the y/y price decline of 5.8%in the C'ville Area is worse than the national average.

Price declines lead to "negative equity."  Almost 30% of Virginia mortgages are at or near negative equity; in fact,  Virginia, is #8 of 50 states for owners owing more than the house is worth.

But the latest data defines a serious nationwide problem: Effective