We're past the housing crisis, right? According to the second quarter Zillow Negative Equity Report, a lot of homeowners are still feeling the crunch. Five years into the housing recovery, and 12.1 percent of mortgaged homeowners are underwater, according to the website's research team. In the second quarter of the year, the number of homeowners underwater dipped from 12.7 percent in the first quarter of 2016 and 14.4 percent since one year ago. The report measured both urban and suburban locations, finding that 13.7 percent of U.S. urban homeowners are underwater, and 11.2 percent of suburban mortgage holders are dealing with negative equity. "At its worst, negative equity touched all kinds of homeowners in all kinds of markets," Zillow Chief Economist, Dr. Svenja Gudell, said in a statement. "The type of community a given home was in -- urban or suburban -- mattered little. Fast-forward a few years, and the relative vibrancy of a given community and how it has performed over...
- The report found that 12.1 percent of U.S. mortgage homeowners were underwater in the second quarter of 2016, down from 14.4 percent a year ago and 12.7 percent from the previous quarter.
- Areas in the west, such as San Jose, San Francisco, Portland and Denver had less than a 5 percent negative equity rate in the second quarter of 2016.
- Midwestern cities Cleveland and Detroit had the biggest gap between underwater homeowners in the suburbs and urban centers, at 13.6 percent and 10.8 percent, respectively.