One-Third of new Owners Owe More Than House is Worth

Bloomberg.com: U.S.

Here's a recipe for financial disaster at a national level: Take the single most valuable property most people will ever own and devalue it by (A) Making it so easy to over-extend themselves buying it that they are in a financial bind immediately, and then (B) Let the economy tumble to the point where that property loses 10-40% of its value.