48% Of Mortgages Underwater By 2011

48% of all mortgages could have negative equity, being a debt greater than the underlying house is worth, by 2011, says Deutsche Bank. Someone please tell Brooklyn. After a few weeks of checking out apartments in Gowanus, Park Slope and Red Hook, everyone’s asking prices are still like the good times are just around the corner. [FORTUNE] (Thanks to Michael!) (Photo: kevindooley)