The scourge of negative equity is costing us all in many ways
The true extent of the negative equity problem we have in this country - and its dangers - have been much under-estimated.
It had been assumed that negative equity was something that was slowly withering away. Not so, if international ratings agency Standard & Poor's is correct.
Almost a decade after house prices peaked, S&P says that more than four out of 10 mortgage borrowers are in negative equity.