WSJ: Home Prices Fall Below Previous Purchasing Price

Some homeowners in pandemic boomtowns are finding themselves ‘underwater’ according to the Wall Street Journal, as the value of their homes fall below the original purchase price. This dynamic has caused some homeowners to sell at a loss to prevent falling deeper into negative equity. These homeowners may also have trouble refinancing as lending standards remain tight. Economists expect home prices to drop by 1 percent by the end of the year, which could push more homeowners underwater.

Read More