According to real estate website zillow.com, one in three homeowners in Portland is underwater.
The report says that home values in Portland have dropped almost 27 percent since their peak several years ago.
In Portland, people who own homes owe nearly $66,000 more than their house is worth. Nationally, that number is $75,000.
While a third of homeowners with mortgages are underwater, 90 percent of them are current on their mortgage and continue to make payments.
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