Financial advisor Dennis Tubbergen keeps a watchful eye on the housing market in the U.S.

Grand Rapids, MI -- (SBWire) -- 03/18/2011 -- Dennis Tubbergen is a financial advisor, advisor to financial advisors, author and radio talk show host. He has kept a watchful eye on the housing market and discusses this topic and many others in his online blog and in his monthly newsletter Moving Markets™.

Recent headlines regarding the rise in home foreclosures have Tubbergen updating his take on the housing market.

Tubbergen, who is CEO of USA Wealth Management, LLC , a federally registered investment advisory company, has been saying for months the housing market cannot dramatically improve until unemployment numbers become substantially better. Tubbergen discussed the home foreclosure rate on a recent broadcast of his radio show, The Everything Financial Radio Show, which is simulcast on two Michigan metro stations and also airs to over 600,000 financial advisors.

“According to Zillow, a Seattle-based real estate reporting company, 27% of U.S. homeowners are now ‘underwater’ in their home, owing more than the home is worth,” explains Tubbergen.

Recent headlines proclaimed home foreclosures in the U.S. rose above 1 million in 2010, topping 2009’s figure by nearly 100,000.

And according to a Bloomberg.com article published February 10, 2011, some 15.7 million homeowners had negative equity, up from the past three months when the number was a smaller 13.9 million.

“According to the Bloomberg article, the average home in foreclosure was delinquent on payments for 507 days, 25% longer than one year ago,” adds Tubbergen.

Tubbergen also points to a March 2, 2011 Bloomberg article noting mortgage applications in the U.S. dropped the last week of February, which states, “Unemployment at 9 percent may be holding back (home) sales, at the same time mounting foreclosures limit construction and depress housing prices.”

“Las Vegas leads the nation with homes with mortgages that had negative equity at 81.7 percent,” reports Tubbergen. “That means that 4 out of 5 homes with a mortgage in Las Vegas were ‘underwater’ in the home. Phoenix, Reno and Orlando follow Vegas with ‘percentage underwater’ rates from 61 percent to 70 percent.”

Dennis Tubbergen has been in the financial industry for over 25 years and has his corporate offices in the USA Wealth Management Building in downtown Grand Rapids, Michigan. Tubbergen is CEO of USA Wealth Management, LLC and has an online blog that can be viewed at http://www.dennistubbergen.com. His weekly talk show The Everything Financial Radio Show is simulcast on two Michigan metro stations and also airs to over 600,000 financial advisors, with recent podcasts available at http://www.everythingfinancialradio.com. His seminar schedule is also available at the radio link.

The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, no forecast should be construed as a guarantee.

Prior to making any investment decision, individuals should consult a professional to determine the risks, costs, benefits and fees associated with a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.