Tuesday, April 21, 2009

Riskiest places to buy a home

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. Here are the 10 metro areas with the highest percentages of non-prime mortgages, which makes them susceptible to defaults as unemployment rates continue to rise:

  • Mission, Texas

  • Detroit, Mich.

  • Miami, Fla.

  • Brownsville, Texas

  • Merced, Calif.

  • Lakeland, Fla.

  • Bakersfield, Calif.

  • Fort Lauderdale, Fla.

  • San Bernardino, Calif.

  • Visalia, Calif.

No comments: