Even with hints of a housing recovery in some places, risky markets, dominated by nonprime mortgages, still prevail in a number of areas. Forbes magazine and Moody’s Economy.com surveyed the 200 largest metropolitan areas, adding up the number of loans to low-rated borrowers and dividing that sum by the total number of mortgages to calculate the percentage of each area’s market that is below prime. Here are the 10 metro areas with the highest percentages of nonprime mortgages, which makes them susceptible to defaults as unemployment rates continue to rise.
Mission, Texas
Detroit
Miami
Brownsville, Texas
Merced, Calif.
Lakeland, Fla.
Bakersfield, Calif.
Fort Lauderdale, Fla.
San Bernardino, Calif.
Visalia, Calif.
Source: Forbes, Maha Atal (03/31/2009)
About Me
- Chicagoland Real Estate Notes
- I am a Licensed Illinois Real Estate Managing Broker, offering Full-Scale, High Performance residential brokerage and professional property management services. I focus on residential properties, including multi-units, Chicago condos, townhomes and single family properties, including fine home and estates, in Central Chicago, Loop areas, as well as,Chicago's shore-lines. However, I've helped buyers and sellers throughout Chicago-land to reach their goals. My approach to real estate is simple and highly effective. I believe that open communication, thorough research, hard work, and tough negotiation are the right tools to help clients reach their goals in an anxiety-free, stress free manner. www.marionpropertymanagement.com
Diannah Evans, MB
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