The U.S. housing market's recovery is gaining momentum, but there are still a number of issues for homebuyers to be cautious of.
To get to the bottom of what's really going on in the housing market, we talked to Gerri Willis, author of "Home Rich" and host of FOX Business Network's The Willis Report (6 p.m. weekdays), about the key things homebuyers need to know in today's challenging market.
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U.S. Housing Market Recovery Just Rescued 4 Million Homeowners
In further signs of a U.S. housing market recovery, home prices are up - meaning a whopping 33% fewer homeowners are underwater.
When the U.S. housing market bottomed out in 2008, nearly one in six homeowners owed more on mortgages than their homes were worth. That translated to 12 million underwater homeowners.
But the outlook has improved considerably.
That's because home prices, which peaked in 2007, rose 7.4% in November from a year...