Mortgages in America are costing people more money than their houses are worth. Part of the reason is because of the housing booms in some states. People also took out mortgages when the price of housing was at it's highest. Now since the housing market has almost hit rock bottom the value of their houses has decreased. People are now paying mortgages on their house that was originally worth more than it is now. Some of these states are just now paying the price for the crash of the housing market. People are also now loosing money on their homes because if they are trying to sell their house they will not receive back the amount of money they paid for it. This is why it is the best time to buy a house because when the economy does recover the house would be worth more than when it was bought. So what do you think about the housing market? And do you think it is right for the people to be paying more for their house than it is worth?