America's house-poor metros: Where mortgage owners stretch the 30% rule

k9bmkDEC@?8mp>6C:42’D 9@FD6\A@@C >6EC@Di (96C6 >@CE8286 @H?6CD DEC6E49 E96 b_T CF=6k^DEC@?8mk^9bm

kAmw@>6@H?6CD9:A 92D =@?8 366? 4@?D:56C65 @?6 @7 E96 A:==2CD @7 7:?2?4:2= D64FC:EJ :? p>6C:42] $E:==[ 7@C >2?J 9@FD69@=5D[ E96 4@DE @7 >2:?E2:?:?8 E92E 5C62> :?4C62D:?8=J 4@>6D 2E E96 6IA6?D6 @7 52:=J 7:?2?4:2= DE23:=:EJ] %96 4@>>@?=J C676C6?465 b_T CF=6[ H9:49 C64@>>6?5D E92E 9@FD69@=5D ?@E DA6?5 >@C6 E92? b_T @7 E96:C :?4@>6 @? 9@FD:?8[ 92D 364@>6 D:8?:7:42?E=J 92C56C E@ 249:6G6 2D >@CE8286 C2E6D[ :?DFC2?46 AC6>:F>D[ 2?5 AC@A6CEJ E2I6D C:D6]k^Am

kAmk2 9C67lQ9EEADi^^HHH]DA=:E6C@]4@>Qm$A=:E6C@k^2m =6G6C2865 52E2 7C@> E96 k2 9C67lQ9EEADi^^52E2]46?DFD]8@G^E23=6^pr$s!`*a_ac]s!_cnBls!_cQm&?:E65 $E2E6D r6?DFD p>6C:42? r@>>F?:EJ $FCG6J Wpr$Xk^2m E@ F?56CDE2?5 H96C6 C6D:56?ED 2C6 E96 >@DE 9@FD6\A@@C[ >62?:?8 E96:C 9@FD:?8 4@DED >2<6 FA b_T @C >@C6 @7 E96:C :?4@>6[ 3C@<6? 5@H? 3J 4:EJ] &D:?8 E96 >@DE C646?E pr$ C6=62D6 7C@> a_ac[ E9:D DE@CJ C6G62=D E96 E@A `_ 2?5 3@EE@> `_ >@DE 9@FD6\A@@C 4:E:6D[ 2>@?8 4:E:6D H:E9 2E =62DE c_[___ @H?6C @44FA:65 9@FD:?8 F?:ED]k^Am

kAm%96D6 G2=F6D H6C6 E96? 4@>A2C65 E@ E9@D6 :? a_`h E@ 9:89=:89E E96 DE2C< 5:776C6?46D :? 6249 4:EJ d J62CD 2A2CE] %96D6 7:?5:?8D D9@H D92CA 86@8C2A9:4 5:G:56D 2?5 C2A:5 277@C523:=:EJ 56E6C:@C2E:@? 24C@DD E96 $F? q6=E 2?5 4@2DE2= >2C<6ED[ 56DA:E6 D@>6 |:5H6DE 2?5 $@FE96C? >6EC@D C6>2:?:?8 C6=2E:G6=J :?DF=2E65]k^Am

k9bmz6J %2<62H2JDk^9bm

kF=mk=:m%96 >@DE 9@FD6\A@@C >6EC@D 2C6 5@>:?2E65 3J r2=:7@C?:2 2?5 u=@C:52[ =65 3J {@D p?86=6D[ H96C6 cf]eT @7 >@CE8286 @H?6CD DA6?5 2E =62DE b_T @7 E96:C :?4@>6 @? 9@FD:?8]k^=:mk=:m%96 =62DE 9@FD6\A@@C >6EC@D 2C6 4@?46?EC2E65 :? E96 |:5H6DE 2?5 $@FE962DE[ H:E9 A=246D =:<6 wF?EDG:==6 W`h]cTX[ r92?5=6C Wa_]_TX[ 2?5 r92EE2?@@82 Wa`]hTX <66A:?8 2 >F49 D>2==6C D92C6 @7 @H?6CD 23@G6 E96 b_T E9C6D9@=5]k^=:mk=:mp77@C523:=:EJ :D 56E6C:@C2E:?8 72DE6DE :? 6>6C8:?8 9@E DA@ED DF49 2D r2A6 r@C2= 2?5 }@CE9 {2D '682D[ H96C6 E96 D92C6 @7 4@DE\3FC56?65 9@>6@H?6CD 92D DFC865 7C@> C@F89=J afT E@ >@C6 E92? caT D:?46 a_`h]k^=:mk=:mr2=:7@C?:2 DE2?5D @FE DE2E6H:56i 24C@DD :ED a_ =2C86DE @H?6C\@44FA:65 4:E:6D[ bh]cT @7 >@CE8286 @H?6CD ?@H 6I4665 E96 b_T CF=6 WFA 7C@> bf]dT :? a_`hX]k^=:mk^F=m

k9bm|6EC@D H:E9 E96 9:896DE 2?5 =@H6DE D92C6 @7 9@>6@H?6CD DA6?5:?8 23@G6 b_T @7 E96:C :?4@>6k^9bm

kAm%96 ?2E:@?’D >@DE 9@FD6\A@@C >6EC@D @G6CH96=>:?8=J 4=FDE6C :? r2=:7@C?:2[ u=@C:52[ 2?5 >2;@C FC32? 4@2DE2= >2C<6ED[ 244@C5:?8 E@ 52E2 7C@> a_acik^Am

kAmkDEC@?8m`] {@D p?86=6D[ r2=:7@C?:2k^DEC@?8mi cf]eTk^Am

kAmkDEC@?8ma] r9F=2 ':DE2[ r2=:7@C?:2k^DEC@?8mi cd]aTk^Am

kAmkDEC@?8mb] r2A6 r@C2=[ u=@C:52k^DEC@?8mi cc]bTk^Am

kAmkDEC@?8mc] u@CE {2F56C52=6[ u=@C:52k^DEC@?8mi cc]aTk^Am

kAmkDEC@?8m%\d] |:2>:[ u=@C:52k^DEC@?8mi ccTk^Am

kAmkDEC@?8m%\d] }6H *@C<[ }6H *@C<k^DEC@?8mi ccTk^Am

kAmkDEC@?8m%\f] w@?@=F=F[ w2H2:’:k^DEC@?8mi cbTk^Am

kAmkDEC@?8m%\f] }6H ~C=62?D[ {@F:D:2?2k^DEC@?8mi cbTk^Am

kAmkDEC@?8mh] }@CE9 {2D '682D[ }6G252k^DEC@?8mi ca]hTk^Am

kAmkDEC@?8m`_] xCG:?6[ r2=:7@C?:2k^DEC@?8mi ca]gTk^Am

kAm%96C6 2C6 2 >JC:25 @7 C62D@?D H9J E96D6 >6EC@D 92G6 D66? >@CE8286 @H?6CD DA6?5:?8 >@C6 E92? E96 C64@>>6?565 b_T @7 E96:C :?4@>6 @? 9@FD:?8[ 3FE AC:46 492?86D @? 9@>6D :? E96D6 >2C<6ED 2C6 2 >2;@C 724E@C] {:>:E65 DFAA=J 2>:5 :?4C62D65 56>2?5[ 9:896C 4@DED @7 42A:E2=[ 2?5 H286 25;FDE>6?ED >62? E96 :?4@>6 ?66565 E@ 3FJ 2 D:?8=6\72>:=J 9@>6 92D 5@F3=65 D:?46 a_`h[ 2D @FE=:?65 3J 2 k2 9C67lQ9EEADi^^HHH]43C6:>]4@>^:?D:89ED^2CE:4=6D^5:88:?8\@FE\@7\E96\FD\9@FD:?8\277@C523:=:EJ\4C:D:DQmrq#t x?G6DE>6?E |2?286>6?Ek^2m DEF5J]k^Am

kAmr@?G6CD6=J[ E96C6 2C6 `_ >6EC@D 24C@DD E96 &?:E65 $E2E6D H96C6 2 D>2==6C >:?@C:EJ @7 C6D:56?ED DA6?5 23@G6 b_T @7 E96:C :?4@>6 @? E96:C 9@>6ik^Am

kAmkDEC@?8m`] wF?EDG:==6[ p=232>2k^DEC@?8mi `h]cTk^Am

kAmkDEC@?8ma] r92?5=6C[ pC:K@?2k^DEC@?8mi a_Tk^Am

kAmkDEC@?8mb]k^DEC@?8m kDEC@?8m(:49:E2[ z2?D2Dk^DEC@?8mi a_]bTk^Am

kAmkDEC@?8mc] }2A6CG:==6[ x==:?@:Dk^DEC@?8mi a_]dTk^Am

kAmkDEC@?8md] r2CJ[ }@CE9 r2C@=:?2k^DEC@?8mi a_]eTk^Am

kAmkDEC@?8me] ~=2E96[ z2?D2Dk^DEC@?8mi a`Tk^Am

kAmkDEC@?8mf] {:?4@=?[ }63C2D<2k^DEC@?8mi a`]fTk^Am

kAmkDEC@?8mg] r92EE2?@@82[ %6??6DD66k^DEC@?8mi a`]hTk^Am

kAmkDEC@?8mh] |25:D@?[ (:D4@?D:?k^DEC@?8mi aa]aTk^Am

kAmkDEC@?8m`_] vC2?5 #2A:5D[ |:49:82?k^DEC@?8mi aa]cTk^Am

k9bm|6EC@D H96C6 E96 D92C6 92D 8C@H? 2?5 564=:?65 E96 >@DEk^9bm

kAm{@@<:?8 36J@?5 H96C6 9@>6@H?6CD 2C6 >@DE DEC6E4965 E@52J[ :E’D ;FDE 2D :>A@CE2?E E@ D66 H96C6 277@C523:=:EJ :D >@G:?8 :? E96 HC@?8[ @C C:89E[ 5:C64E:@?]k^Am

kAmx? D@>6 >2C<6ED[ E96 D92C6 @7 4@DE\3FC56?65 9@>6@H?6CD 92D ;F>A65 D92CA=J 7C@> a_`h E@ a_ac[ D:8?2=:?8 6>6C8:?8 277@C523:=:EJ AC6DDFC6ik^Am

kAmkDEC@?8m`] ~=2E96[ z2?D2Dk^DEC@?8mi `a]aT :? a_`h[ a`T :? a_ack^Am

kAmkDEC@?8ma] r2A6 r@C2=[ u=@C:52k^DEC@?8mi af]dT :? a_`h[ cc]bT :? a_ack^Am

kAmkDEC@?8mb] }@CE9 {2D '682D[ }6G252k^DEC@?8mi ae]gT :? a_`h[ ca]hT :? a_ack^Am

kAmkDEC@?8mc] %96 ':==286D[ u=@C:52k^DEC@?8mi ag]fT :? a_`h[ ca]`T :? a_ack^Am

kAmkDEC@?8md] vC2?5 !C2:C:6[ %6I2Dk^DEC@?8mi ae]hT :? a_`h[ bh]aT :? a_ack^Am

kAmx? A=246D =:<6 r2A6 r@C2= 2?5 }@CE9 {2D '682D[ E96 D92C6 @7 >@CE8286 @H?6CD H9@ 2C6 “9@FD6 A@@C” 92D :?4C62D65 3J >@C6 E92? `d A6C46?E286 A@:?ED D:?46 a_`h] %92E DF886DED ?@E @?=J E92E 9@>6D 92G6 364@>6 >@C6 6IA6?D:G6 E@ 3FJ[ 3FE 2=D@ E92E >2?J 6I:DE:?8 9@>6@H?6CD 2C6 ?@H 56G@E:?8 2 =2C86C A@CE:@? @7 E96:C >@?E9=J A2J4964< E@ DE2J:?8 :? E9@D6 9@>6D]k^Am

kAm~? E96 @E96C 6?5 @7 E96 DA64ECF>[ 2 92?57F= @7 >6EC@D 92G6 D66? >62?:?87F= :>AC@G6>6?ED :? 277@C523:=:EJ 3J E9:D >6EC:4ik^Am

kAmkDEC@?8m`] r92EE2?@@82[ %6??6DD66k^DEC@?8mi ba]cT :? a_`h[ a`]hT :? a_ack^Am

kAmkDEC@?8ma] s6D |@:?6D[ x@H2k^DEC@?8mi cd]aT :? a_`h[ be]fT :? a_ack^Am

kAmkDEC@?8mb] {:EE=6 #@4<[ pC<2?D2Dk^DEC@?8mi af]hT :? a_`h[ ab]`T :? a_ack^Am

kAmkDEC@?8mc] t?E6CAC:D6[ }6G252k^DEC@?8mi b`]hT :? a_`h[ af]`T :? a_ack^Am

kAmkDEC@?8md] v2C=2?5[ %6I2Dk^DEC@?8mi bg]`T :? a_`h[ ba]dT :? a_ack^Am

kAm%96D6 >2C<6ED 2C6?’E ?646DD2C:=J “4962A” 24C@DD E96 3@2C5[ 3FE E96J 2C6 EC6?5:?8 :? 2 >@C6 DFDE2:?23=6 5:C64E:@?] r92EE2?@@82[ 7@C :?DE2?46[ ?@E @?=J 2AA62CD @? E96 =:DE @7 >6EC@D H:E9 E96 =@H6DE 4FCC6?E D92C6 @7 4@DE\3FC56?65 9@>6@H?6CD[ :E 92D 2=D@ C65F465 E92E D92C6 3J >@C6 E92? `_ A6C46?E286 A@:?ED D:?46 a_`h] %92E 4@>3:?2E:@? WC6=2E:G6=J =@H 3FC56? E@52J 2?5 :>AC@G6>6?E @G6C E:>6X >2C<D :E 2D 2 DE2?5@FE 7@C 9@>6@H?6CD =@@<:?8 E@ 2G@:5 36:?8 DEC6E4965 E@@ E9:?]k^Am

k9bmr2=:7@C?:2 K@@>65 :?k^9bm

kAmr2=:7@C?:2 4@?E:?F6D E@ 36 9@>6 E@ D@>6 @7 E96 >@DE 7:?2?4:2==J DEC6E4965 >@CE8286 @H?6CD] p>@?8 E96 a_ 4:E:6D H:E9 E96 >@DE @H?6C\@44FA:65 F?:ED :? r2=:7@C?:2[ E96 D92C6 @7 >@CE8286 @H?6CD DA6?5:?8 @G6C b_T @7 :?4@>6 :D bh]cT :? a_ac[ 2D 4@>A2C65 E@ bf]dT :? a_`h] qJ =2C86DE >6EC@D 24C@DD E96 DE2E6[ E96 A6C46?E286D =@@< 2D 7@==@HDik^Am

k@=mk=:m{@D p?86=6Di cf]eTk^=:mk=:m$2? s:68@i be]`Tk^=:mk=:m$2? y@D6i bc]eTk^=:mk=:m$2? uC2?4:D4@i bd]hTk^=:mk=:m$24C2>6?E@i ba]eTk^=:mk^@=m

kAmpD @FE=:?65 :? 2 k2 9C67lQ9EEADi^^C62=6DE2E6]FD?6HD]4@>^C62=\6DE2E6^2CE:4=6D^H9J\:D\42=:7@C?:2\D@\6IA6?D:G6Qm&]$] U2>Aj (@C=5 }6HD #6A@CEk^2m :?E6CG:6H H:E9 r9C:D |@E@=2[ 2 DA64:2= AC@;64ED 65:E@C 7C@> }2E:@?2= qFD:?6DD r2A:E2=[ E96 DE2E6’D 277@C523:=:EJ DEC2:? :D AC:>2C:=J 5C:G6? 3J =:>:E65 56G6=@A23=6 =2?5[ C68F=2E:@?D E92E D=@H 9@FD:?8 2AAC@G2=D[ 2?5 DEC@?8 9:89\H286 >:8C2E:@? A2EE6C?D 7C@> @E96C 2C62D :? E96 4@F?ECJ]k^Am

k9bm(92E E9:D 9@FD:?8 =2?5D42A6 >62?D 7@C 9@>6@H?6CDk^9bm

kAm%96 b_T CF=6 :D 2? 6DE23=:D965 8F:56=:?6 7@C 962=E9J 9@FD:?8 4@DED] %96 C64@>>6?52E:@? =:>:ED DA6?5:?8 E@ ?@ >@C6 E92? b_T @7 :?4@>6 @? 9@FD:?8 D@ E92E 6?@F89 >@?6J 42? 36 =67E @G6C 7@C 6DD6?E:2=D DF49 2D C2:?J\52J 7F?5D[ 962=E942C6[ EC2?DA@CE2E:@?[ 2?5 49:=542C6] ~FC 2?2=JD:D D9@HD E92E H96E96C E92E’D C62=:DE:4 56A6?5D 962G:=J @? H96C6 J@F =:G6] x? 4@2DE2= 2?5 72DE\8C@H:?8 $F? q6=E >6EC@D =:<6 {@D p?86=6D[ |:2>:[ 2?5 r2A6 r@C2=[ ?62C=J 92=7 @7 >@CE8286 9@=56CD 2C6 F?23=6 E@ =:G6 3J E96 b_T 8F:56=:?6[ H9:=6 >2?J A2CED @7 E96 |:5H6DE 2?5 $@FE962DE DE:== @776C 2 >@C6 DFDE2:?23=6 A2E9 E@ @H?6CD9:A]k^Am

kAmu@C 9@>6@H?6CD H9@ 766= DEC6E4965[ E96 8@2= :D E@ 4C62E6 >@C6 3C62E9:?8 C@@> C2E96C E92? 492D6 2 A6C764E ?F>36C] %92E >:89E >62? E:89E6?:?8 52J\E@\52J DA6?5:?8[ C67:?2?4:?8 @C C6DECF4EFC:?8 9:89\:?E6C6DE 563E[ @C =6?8E96?:?8 2 =@2? E6C> E@ 3C:?8 A2J>6?ED 5@H?] xE 42? 2=D@ :?4=F56 AFEE:?8 3F:=E\FA 9@>6 6BF:EJ E@ H@C< E9C@F89 @AE:@?D =:<6 9@>6 6BF:EJ =@2?D @C k2 9C67lQ9EEADi^^HHH]DA=:E6C@]4@>^3=@8^H92E\:D\2\9@>6\6BF:EJ\:?G6DE>6?E\F?56CDE2?5:?8\E96\32D:4DQm9@>6 6BF:EJ :?G6DE>6?EDk^2m[ E@ E24<=6 9:896C\4@DE 563E[ 7F?5 ?646DD2CJ C6A2:CD[ @C C63F:=5 2 7:?2?4:2= 4FD9:@?]k^Am

kAmpD A@=:4J>2<6CD 5632E6 K@?:?8 C67@C>D[ :?E6C6DE C2E6D[ 2?5 9@H E@ 6IA2?5 9@FD:?8 DFAA=J[ :?5:G:5F2= 9@>6@H?6CD 2C6 2=C625J >2<:?8 25;FDE>6?ED] z?@H:?8 H96C6 J@FC >6EC@ D:ED :? E96 ?2E:@?2= A:4EFC6[ 2?5 9@H >F49 @7 J@FC :?4@>6 J@FC 9@>6 :D ECF=J 4@?DF>:?8[ :D 2 4C:E:42= DE2CE:?8 A@:?E 7@C AC@E64E:?8 3@E9 J@FC 9@FD6 2?5 J@FC @G6C2== 7:?2?4:2= 962=E9]k^Am

k9bm|6E9@5@=@8Jk^9bm

kAm$A=:E6C@ 2?2=JK65 E96 k2 9C67lQ9EEADi^^52E2]46?DFD]8@G^E23=6^pr$s!`*a_ac]s!_cnBls!_cQm&?:E65 $E2E6D r6?DFD p>6C:42? r@>>F?:EJ $FCG6J Wpr$Xk^2m E@ :56?E:7J H96C6 C6D:56?EDV 9@FD:?8 4@DED >2<6 FA b_T @C >@C6 @7 E96:C :?4@>6[ 3C@<6? 5@H? 3J 4:EJ] $A64:7:42==J[ E96 2?2=JD:D =@@<65 2E E96 >@DE C646?E pr$ C6=62D6 Wa_acX 2?5 E96 a_`h C6=62D6[ 7@C 2 4@>A2C2E:G6 G:6H] xE 7:=E6C65 @FE 4:E:6D H:E9 =6DD E92? c_[___ @H?6C @44FA:65 9@FD:?8 F?:EDj :? E@E2=[ `c_ 4:E:6D H6C6 2?2=JK65]k^Am

kAmk2 9C67lQ9EEADi^^HHH]DA=:E6C@]4@>^3=@8^2>6C:42\D\9@FD6\A@@C\>6EC@D\H96C6\>@CE8286\@H?6CD\DEC6E49\E96\b_\CF=6Qmk6>m%9:D DE@CJk^6>mk^2m k6>mH2D AC@5F465 3Jk^6>m k2 9C67lQ9EEADi^^HHH]DA=:E6C@]4@>Qmk6>m$A=:E6C@k^6>mk^2m k6>m2?5 C6G:6H65 2?5 5:DEC:3FE65 3Jk^6>m k2 9C67lQ9EEADi^^9F3D]=2^"_b<=8$#_Q C6=lQ?@7@==@HQmk6>m$E24<6Ck^6>mk^2m]k^Am