9. Miami-Fort Lauderdale, Fla.
Homeowners with Negative Mortgages: 41.4%
The story is much the same when we move down to Florida … just slightly worse. The area was obviously hit hard during the housing crisis, and even three years later, 41.4% of homeowners had underwater mortgages last quarter. That’s hardly better than the 43.7% the quarter before.
In fact, the whopping number of homeowners with negative equityis one reason Forbes cited for putting Miami in the No. 1 spot on its list of Most Miserable Cities earlier in the year.
Ft. Lauderdale has just under 81,000 houses, while Miami has nearly twice that, with a total of almost 150,000. Miami has a large number of renters, with nearly 65% of occupants not owning the home they live in.