Santa Clara County

This is pretty shocking... A recent news report shows that 1 in 7 homes in my hometown (San Jose, which is part of Santa Clara County) have property values "underwater" as a result of the current housing recession. In other words, 1 in 7 homeowners' home values are below what they owed on their mortgages.

Here's a map showing areas of Santa Clara County most affected by homes going "underwater" (click image to enlarge). I am from 95120, which has been minimally affected. Not sure why but most of the hardest hit areas happen to be on the east side. Go figure.

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