1 in 5 US homeowners owe more on their house than what it is worth

Zillow.com released a statement today that the real estate market may go into a double dip recession as 1 in every 5 homeowners are underwater with their current mortgage.  Zillow's Chief Economist says that home values may drop another 5% and finally hit the bottom as major markets are now indicating. If you did not hear this today, here is a link with the video: