Survey: Homeowners’ sinking feeling is real

Poor loan-to-value ratios are spreading. The volume of property owners with debt that exceeds value is high, according to the latest Business Pulse survey, the nonscientific weekly online poll from the Tampa Bay Business Journal. Of the 379 respondents to a question about whether property owners are 'underwater' on their home debt, 46 percent, or 173 said they were, and 22, or 5 percent said they were flat. Just under half, 49 percent or 184 respondents, said they didn’t owe more than their property was worth. Of those that are underwater, a 37 percent majority said they owe between $50,001 and $75,000 while 26 percent owed between $1,000 and $25,000. One-fifth of the respondents owe $100,000 or more. Of those who still have equity, 39 percent said it is shrinking fast while 61 percent said it is stable or growing.

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