0 a situation in which the value of a house has become less than the amount of money its owner borrowed in order to buy it --
1 a situation in which a house, etc. has become less valuable than the amount that is owed to the bank that lent the money to buy it: --
I freely admit that repossession, negative equity and other ills in the housing market have caused much pain in the past few years.
The good news is that negative equity has declined by half in the past three months.
In the eastern region, there are something like 70,000 homes with negative equity.
I hope that it does not, but negative equity may come back to trouble us before long.
Ask anyone who has experienced negative equity, or who has had to service a large debt, about mortgages!
Estimates of the number of households with negative equity have varied considerably.
There is insufficient information to estimate the total value of negative equity in mortgaged homes.
Will it not erode the value of existing properties, again creating negative equity for some householders?
