Detroit 'has most repossessions' (BBC) {also CA, Las Vegas}

[eppur_se_muova]

The Detroit area had the highest rate of homes entering the repossession process in the US in 2007, a study by mortgage research firm RealtyTrac says.

Several cities in California followed close behind, the analysis suggested, highlighting growing problems in some previously prosperous areas.

The number of homes facing action which could lead to repossession rose in 86 of the 100 largest metropolitan areas.

The problems largely stem from homeowners with sub-prime loans.

Unemployment factor


1. Detroit, MI
2. Stockton, CA
3. Las Vegas, NV
4. Riverside--San Bernardino, CA
5. Sacramento, CA
6. Cleveland, OH
7. Bakersfield, CA
8. Miami, FL
9. Denver-Aurora, CO
10. Fort Lauderdale, FL
Source: RealtyTrac
***
more: http://news.bbc.co.uk/2/hi/business/7242523.stm

[NMDemDist2]

1. wow Denver? I really expect to see Phoenix on there but Denver?

and how sad is it that both Sacramento and Stockton are in the top ten, they are only an hour apart so the Central Valley is getting hammered