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Forty percent of Georgia homes underwater

Special to SEGAZINE

More than forty percent of Georgia homeowners with mortgages owe more money than their houses are worth, according to new data. But at the same time, real estate companies are beginning to buy up properties in Georgia as investments.

The data from Zillow.com shows that in some Georgia counties, as many as 80 percent of homeowners are underwater. That’s the term for the phenomenon.

via Georgia Homes Underwater.

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