Rising home values have lifted more borrowers out of the hole of owing more than their properties are worth. The number of “underwater” homeowners in the fourth quarter of 2012 declined by 1.7 million from a year earlier, meaning 1.7 million U.S. households have regained home equity. Overall, 21.5% of households with a mortgage were underwater at the end of 2012, down from 25.2% at the end of 2011.
Wall Street Journal, March 19, 2013
