Fla. has 2nd-highest rate of underwater properties

Published On: Jan 09 2014 11:27:25 AM EST
Updated On: Jan 09 2014 11:29:53 AM EST
ORLANDO, Fla. -

A new report says Florida has the nation's second-highest rates of residential properties that were deeply underwater last month.

The research firm RealtyTrac said Thursday that just over a third of Florida's residential properties were deeply underwater. Only Nevada had a higher rate.

RealtyTrac describes a deeply underwater property as one that is worth 25 percent less than the combined loans secured by the property.

Florida cities also were among the metro areas with the highest rates of deeply underwater properties.

At the top of the list was Las Vegas, followed by Orlando, Detroit, Tampa, Miami and Chicago.

Comments

The views expressed below are not those of News4Jax or its affiliated companies. By clicking on "Post," you acknowledge that you have read the Terms of Service and your comment is in compliance with such terms. Readers, please help keep this discussion respectful and on topic by flagging comments that are offensive or inappropriate (hover over the commenter's name and you'll see the flag option appear on right side of that line). And remember, respect goes both ways: Tolerance of others' opinions is important in a free discourse. If you're easily offended by strong opinions, you might skip reading comments entirely.

blog comments powered by Disqus