Wednesday, September 28, 2011

7.7% of Australian Houses Bought Since 2007 Are Underwater

Wonder if you included transaction costs what the percentage jumps up to?

Also, I wonder what Rupert thinks of this kind of factual reporting? How'd this slip by?

Pressure grows on property
And a report released by RP Data revealed that nationwide, 7.7 per cent of houses bought since 2007 are now worth less than their purchase price.

The Moody's report shows that the proportion of delinquent mortgages - where customers are behind on their repayments by 90 days or more - has climbed from 1.36 per cent in March last year to 1.67 per cent at the end of June.

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