ANALYST: Half Of American Homeowners Underwater By '11

Scary report:

Reuters: The percentage of U.S. homeowners that owe more than their house is worth will nearly double to 48 per cent in 2011 from 26 per cent at the end of March as home prices continue to fall, Deutsche Bank said on Wednesday. 

Home price declines will have their biggest impact on “conforming” loans that meet the underwriting guidelines of Fannie Mae and Freddie Mac, the bank said in a report.

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