The top 10 markets where a foreclosure most likely to occur are mostly in California, garnering 5 of the 10 markets in the first quarter of 2007.
The other interesting thing that I noticed is that the 2 largest gambling cities Las Vegas and Atlantic City come in 8th and 9th on the list of foreclosures.
- Modesto, Calif.: 3.9 percent
- Stockton, Calif.: 3 percent
- Merced, Calif.: 2.8 percent
- Port St. Lucie-Fort Pierce, Fla.: 2.7 percent
- Miami-Miami Beach-Kendall, Fla. Metropolitan Division: 2.5 percent
- Riverside-San Bernardino-Ontario, Calif.: 2.5 percent
- Vallejo-Fairfield, Calif.: 2.4 percent
- Las Vegas-Paradise, Nev.: 2.3 percent
- Atlantic City, N.J.: 2.2 percent
- Cape Coral-Fort Myers, Fla.: 2.2 percent
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5 out of 10 are in California… Ouch!
I guess that’s not bad considering Money Magazine named 23 out of 25 California Cities as the most expensive in the nation…
http://money.cnn.com/magazines/moneymag/bplive/2006/top25s/priceyhomes.html
No big surprise that CA and FL own this list.