Half of U.S. houses head underwater, 7-year-old drives into the law

GOOD DAY FOR: Renters, after Deutsche Bank estimated that 48 percent of U.S. homes will be “underwater,” or worth less than the money owed on them, by 2011. As of March, 26 percent of U.S. homes were underwater. The report also sees a further 14 percent drop nationwide in housing prices by 2011, which would bring the total decline to 41.7 percent. Other evidence points toward a stabilization in the housing market. (Reuters in Yahoo! News)

BAD DAY FOR: Shooting home movies, as Quebec police are weighing a host of charges against a family that videotaped, then posted on YouTube, footage of 7-year-old son “Samuel” driving the family SUV. The film, evidently shot by the father, also shows an seatbelt-less young girl in the backseat. (Reuters)

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