These 15 housing markets have the most borrowers underwater

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Since the Pandemic Housing Boom fizzled out in the summer of 2022, some overheated parts of the country—particularly in the West, Southwest, and Southeast—have experienced home price declines from their peak (see this map). While many of these markets have seen only modest drops, a few metro areas, such as Cape Coral and Austin, have undergone what I’d consider “material” home price corrections...