Perhaps no other age group is feeling the pain more than those mortgage borrowers under 40.
A new report out from Zillow finds 39 percent of all borrowers are underwater. Compare that to nearly half of all mortgage holders under 40. The report from Zillow says that's because younger borrowers have had less time to build equity in their homes.
On the positive side, those under 40 are not as deep underwater as some older borrowers who jumped into the game late.