In recent years, we have become only too familiar with the term "underwater" — meaning homes with mortgages greater than their market value.

Today, that term has a more realistic meaning. Nearly 2 million U.S. homes would be lost if the oceans rise by six feet as scientists expect by the year 2100, according to a new Zillow analysis.

The endangered homes represent just under two percent of the national housing stock, and are worth a cumulative $882 billion. Here is a portion of the Zillow report:

"New research published in the scientific journal Nature found that sea levels could rise six feet by the year 2100, mostly due to melting Antarctic ice sheets. This new estimate nearly doubles previous expectations for rising oceans."

Using data from the National Oceanic and Atmospheric Administration, the report identified which homes would be affected by the predicted six-foot rise in ocean levels.

"More than half of all homes that would be lost are in Florida, and they account for nearly half of the lost housing value as well. In all, one in eight Florida homes would be lost. More than 9 percent of homes in Hawaii would be underwater; 81 percent of those are in the capital city of Honolulu.

"Thirty-six coastal cities would be entirely underwater, and nearly 300 cities would lose at least half their homes.

"The at-risk homes along the waterfront are 58 percent more valuable than the average U.S. home. The biggest difference in home values is in Maine, where homes at the water's edge are worth $436,798, more than three times the statewide median home value of $138,900. By contrast, homes at risk of rising oceans are less valuable than the typical home in Hawaii, Maryland, Washington, and Oregon."

Q: Are homes gaining in price in most areas?

A: Yes, the second quarter has been good for rising prices. Here's a report from the National Association of Realtors:

"Home prices maintained their robust, upward trajectory in a vast majority of metro areas during the second quarter, causing affordability to slightly decline despite mortgage rates hovering at lows not seen in over three years, according to the latest quarterly report by NAR.

. "The report also revealed that for the first time ever, a metro area — San Jose, California — had a median single-family home price above $1 million.

"The median existing single-family home price increased in 83 percent of measured markets, with 148 out of 178 metropolitan statistical areas (MSAs) showing gains based on closed sales in the second quarter compared with the second quarter of 2015."

Q: Are mortgage applications rising?

A: Yes, finally those applications are on the rise. Here is a portion of a most recent release about mortgage applications:

"Mortgage applications increased 7.1 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey.

"The Market Composite Index, a measure of mortgage loan application volume, increased 7.1 percent on a seasonally adjusted basis from one week earlier. The Refinance Index increased 10 percent from the previous week."

Q: Is the delinquency rate for mortgages still a problem?

A: Yes, but its improving rapidly. Here's a portion of a recent release on that subject:

"The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased 11 basis points to a seasonally adjusted rate of 4.66 percent of all loans outstanding at the end of the second quarter of 2016. This was the lowest level since the second quarter of 2006.

"The delinquency rate was 64 basis points lower than one year ago, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey.

"The percentage of loans on which foreclosure actions were started during the second quarter was 0.32 percent, a decrease of three basis points from the previous quarter, and down eight basis points from one year ago. This foreclosure starts rate was at its lowest level since the second quarter of 2000. "

To find out more about Jim Woodard and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate website at www.creators.com. Jim Woodard's email: storyjim@aol.com. COPYRIGHT 2016 CREATORS.COM.