Owners owe far more than homes are worth in Sacramento area

From Sac Bee:

Homeowners in the Sacramento metropolitan area are underwater by $20.7 billion, according to a national study being released today by Seattle-based data company Zillow.

Nationally, the Zillow Negative Equity Report said, through the first quarter of this year, 31.4 percent of homeowners with mortgages owed more than their houses were worth.