John Mauldin's latest newsletter has an economic outlook for the first half of 2009. It includes an update on the status of the housing sector. Here is a brief exerpt:
Click here to read the entire newsletter."At present around 12 million homeowners, a quarter of those with mortgages, are underwater with their houses worth less than their mortgages. Among those who bought their homes in the past five years, 29% are underwater. If our forecast of a 37% house price fall is reached, about 25 million, or almost half the 51 million with mortgages, will be underwater."
