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Housing market

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California is in a top 5 list!! For most "negative equity" in its housing market, according to a report by CoreLogic Inc. It states that 33 percent of residential properties with mortgages in California are worth less than is owned on the loan. That's 2,260,000 million homes, with another 286,000 barely able to keep themselves off the list. The total outstanding mortgage debt in California was $2.03 trillion at the end of the second quarter, according to the report. The other four states in the top five are Nevada, Arizona, Florida and Michigan. [SF Business Times]