Underwater mortgages are nowhere close to GFC levels. However, limited equity, i.e., less than 10% of equity in homes is rising.
As home values decline, the proportion of the loan increases and equity portion decreases. This needs to stay under control. pic.twitter.com/d1EtJdRPw4
— Ayesha Tariq, CFA (@AyeshaTariq) February 13, 2023