Why most homeowners don’t need to lose sleep over negative equity

Oleksandra Korobova/Getty For most people who buy a home, a mortgage represents the single largest debt they will take on in their lives. But what happens if the market value of a property you’ve bought falls below the amount you still owe on your home loan? This situation is called “negative equity”. In Australia, decades of house price growth have meant it simply hasn’t been a pressing national issue. Now, as house prices fall across large parts of the country, could it soon become…