About 20 percent of U.S. mortgages were underwater at the end of June, amounting

Question

About 20 percent of U.S. mortgages were underwater at the end of June, amounting to 10.8 million homes. Of those, 1.8 million borrowers would recover if prices rose 5 percent, according to data analysis firm CoreLogic.More than 20 percent of U.S. mortgages were underwater at the end of June, amounting to 10.8 million homes. Of those, 1.8 million borrowers would recover if prices rose 5 percent, according to data analysis firm CoreLogic. How many homes are there in the USA? Furthermore, what percentage of homes will recover from being under water if prices increase by 5%?

Explanation / Answer

Since 1.8 million is 20% then 1,800,000 = 0.2X Divide. X = 9,000,000 9 million homes were in the US. If prices increase by 5%, 1.8 million homes will recover. Hope this helps, best of luck.

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.