http://www.americanprogress.org/issues/2008/02/housing_downer.html

David Madland of the Center for American Progress tells CNN, the housing bubble burst has revealed an economy that hasnt created new jobs or raised wages while costs for fuel, food and other necessary goods has soared. According to CNN, Goldman Sachs research reveals 30% of mortgages nationwide, or 15,000,000 homes, are now worth less than the mortgages people are paying for them.

www.AMERICANPROGRESS.org