Most Colorado homeowners are in pretty good financial shape.
Zoom in: Only 2% of homeowners are "underwater" on their loans — meaning they owe more on the mortgage than their home is worth — slightly lower than the national average (2.7%), per Attom, a real estate data company.
The intrigue: Wyoming has the second-highest underwater rate in the country (8.8%), with home values there dropping about 12% since June 2023.
Louisiana's rate of 11.3% leads the nation.
Reality check: These shares are still relatively small, nothing like the 2008 housing crisis that left 1 in 4 homes with underwater mortgages.
The big picture: The South and Midwest have the highest share of underwater mortgages because home values in those areas fell from their peak during the pandemic housing boom.
And people who bought at the top are seeing their home values dip below what they paid or borrowed for the house.