US market: property values "predict 2 year slide"

.
.
Study says: 48% of homeowners headed to owe more than the home’s (market) value.

...in the United States, a new study says the number of Americans owing more than their home is worth will see a major rise in the next two years. According to Deutsche Bank, 48 percent of homeowners will have mortgages surpassing their home value by 2011, up from 26 percent this year.

US market: government foreclosure remedy "failing to provide"

.
.
Efforts to Reduce Foreclosures Falls Short

The Wall Street Journal reports an Obama administration effort to reduce home foreclosures by lowering the mortgage payments of struggling borrowers is failing to help as many people as expected.

Administration officials have summoned executives of twenty-five mortgage-servicing companies to Washington today to discuss efforts to help borrowers. Bank of America is only this month beginning to implement the Obama plan for all at-risk borrowers. Wells Fargo didn’t begin offering some at-risk borrowers loan modifications under the Obama plan until early June. Meanwhile, the Washington Post reports government initiatives to stem the country’s mounting foreclosures have also been hampered because banks and other lenders in many cases have more financial incentive to let borrowers lose their homes than to work out settlements.