Scott Marks 4:26 p.m., May 21
More San Diego Homeowners Underwater
New figures from Zillow this morning (May 24) indicate that in the U.S. in the first quarter, 31.4% of American homeowners are underwater (owing more on their mortgage than the home is worth), up from 31.1% in the fourth quarter of last year. The 16 million underwater homeowners collectively owe $1.2 trillion more than their home is worth, but 90% continue to make mortgage payments on time. A full 35.6% of San Diego metro area homeowners are underwater, up from 35.2% in the fourth quarter of last year, says Zillow.