Less fortunate are people who bought their houses around the peak of the real estate boom. Property values are still well below what these homeowners paid, and as a result they may not have been able to take advantage of today's attractive refinance rates.
Also among the losers of the housing situation is anyone with a stake in the U.S. economy. Housing prices are widely followed as an indicator of the economy's health. Given the fact that record-low interest rates have so far fueled only a modest recovery in housing prices, the latest real estate news is hardly a sign of robust economic growth.