The main ingredient: “The Associated Press-AOL Money & Finance telephone poll of 1,002 adults, including 769 homeowners, portrayed a public afflicted with anxiety about what will happen to their pocketbooks in the near future. Those anxieties also show how the slumping real estate market has led to a weakened economy. [No shit?]”
Add the graph:
Shake and stir in: “The people most affected are those who bought recently with little or no money down. When home values decline, many such homeowners end up “underwater” – owing more than their house is worth. [Really?]”
Yet another excellent Chronicle treat that is sure to help boost both the economy and general well-being of our nation and specifically housing market. Well done!
But did you notice San Francisco? I call for a petition to officially change the name of our region’s largest publication from “San Francisco Chronicle” to “Bay Area Chronicle, and Everything Bad about it“.
-Homeowners get that drowning feeling [sfgate]