If you bought in 2006 its 50/50 you?re underwater

Zillow posted some interesting analysis today in which they claim that 50% of all home buyers who purchased a home in 2006 are now in a negative equity situation - underwater. That's a mind-boggling stat don't you think? It's a coin flip really if you're ahead or buried. Well probably not a coin flip as it is most likely self-selecting for the folks that stretched on financing in bubblesque territory. To wit from Inman News on the 90% of the 2006 crop of Las Vegas home buyers who are upside down: In the Las Vegas metro, about nine out of 10 homeowners who purchased in 2006 owe more than their home is worth. From Zillow and their take on the housing market: Conditions continued to worsen in Q1 as U.S. home values continued their slide down with the Zindex posting a 7.7% year-over-year