An important article in today’s Wall Street Journal exposed how dire the national housing crisis has become. Today, across the country, one in six homeowners is underwater in their mortgage. By this, The Wall Street Journal reports, nearly 16% of U.S. homeowners owe more on their mortgage then their home is worth. In a county where the economy has been fueled during tough times by homeowners drawing upon their home equity to maintain their standard of living, the evaporation of equity is a major contributor to current economic problems.According to the Journal:The result of . . .
