That's the percentage of Bend homeowners who are underwater on their mortgages, meaning that they owe more on their homes than those homes are currently worth in the post-bubble real estate world. The number was good, or bad, enough to put our town on the list of the ten most "underwater" housing markets in America, right behind Greeley, CO, (45 percent underwater) and Minneapolis/St. Paul, MN. (39 percent) Topping the list that was compiled
by U.S. News and World Report was Sin City where a whopping 81 percent of
homowners are drowning.