The president of the United States, Barack Obama, walks outside the White House in Washington. Kevin Lamarque / REUTERS
The US real estate market is experiencing a situation similar to that of Spain. Their real estate bubble burst and families now pay huge mortgages, because they owe the bank more than their homes are worth . And as in Spain the evictions have increased in geometric progression.
Because of that vertiginous decrease in the price of housing in recent years, more than 10 million owners (one in four) now owe the bank more money than the value of the house they bought in their day. It has been recognized by the president of the United States, Barack Obama.