Besra Gold Inc (BESAF)

[Spellbound]

Bloomberg: Almost One-Quarter of U.S. Homeowners Under Water

Ref - http://www.bloomberg.com/apps/news?pid=newsarchive&sid=alObJoQNAz.E

Stan Humphries, Zillow’s vice president of data and analytics, said in an interview . . . “You are going to continue to see home prices fall for the rest of this year and some portion of next year.” The recession cut home values by $2.4 trillion last year, First American CoreLogic said in a March 4 report. More than 8.3 million U.S. mortgage holders owed more than their properties were worth and an additional 2.2 million borrowers will be underwater if prices decline another 5 percent, the Santa Ana, California-based seller of mortgage and economic data, said in the report.