Housing downturn likely to continue for some time

11/24/2008 | Miami Herald (free registration), The

Ronald Reagan's former economic adviser Martin Feldstein said the housing downturn will continue, as homeowners rack up negative equity while their home values sink. "There are now 12 million homes in the United States with a loan-to-value ratio greater than 100 percent," said Feldstein. "That's one mortgage in four."

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Miami Herald (free registration), The

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