Word: marche
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...This isn't the first time we've heard exceptional numbers on upside-down borrowers. First American CoreLogic figures there were already 11 million homeowners in that position at the end of last year, and Moody's Economy.com estimates we had reached 15 million by the end of March. The Deutsche Bank projection assumes that house prices nationwide will drop an additional 14%. That forecast is starker than most, and if it doesn't come to pass, the problem of underwater borrowers won't be nearly as severe. (See how Americans are spending...
...boom and therefore often correspond to home prices that had nowhere to go but down. However, according to Deutsche Bank's projections, a second wave of upside borrowers is about to hit, and this time prime borrowers will account for the bulk. As of the end of March, the bank estimated that 16% of prime borrowers with conforming loans were underwater. By the end of March 2011, some 41% are projected to be. And about half of those are expected to owe at least 25% more than their house's value...
...that doesn't mean there aren't grim pockets elsewhere. By the end of March 2011, Deutsche Bank projects, 65% of borrowers in the Chicago metro area, 71% of those in the Baltimore and Portland, Ore., areas, and 77% in greater New York City will be underwater. On paper, that might look a lot better than the 93% Deutsche Bank is expecting for Fort Lauderdale, Fla., and the 92% figure for El Centro, Calif. But to the people living in those houses, unable to move, the relative good fortune will likely be little consolation...
...ranking envoy would leave without securing their freedom. "A former President is not going to show up in Pyongyang only to get stiffed," said a Western diplomat on Tuesday. "There had to have been assurances that this was the endgame" for the two women prisoners, who were arrested on March 17 along the border in northeast China while filming a report about North Korean refugees. They were subsequently convicted of illegal entry and unspecified "hostile acts" against North Korea and sentenced to 12 years of hard labor. (Read CNN's story on Clinton's meeting with Kim Jong...
...support of a majority. Some Iran watchers saw the Aug. 3 comment by Ahmadinejad that he would "invite all for active participation and planning" as a signal that he may seek to pick a more inclusive Cabinet in order to defuse tensions. (Watch TIME's video "An Iranian Protest March in Paris...