New Report Shows Vulnerable Housing Markets in New York City, Chicago, and Inland California
According to a recent report by ATTOM, certain areas in the United States are more vulnerable to housing market declines, particularly in New York City, Chicago, and inland California. The report, which analyzes factors such as home affordability, equity, and unemployment rates, highlights the potential risks in these regions.
California, New Jersey, and Illinois have high concentrations of at-risk markets, while parts of Florida have also joined the mix. The South, on the other hand, faces relatively smaller exposure to market downturns.
The report reveals that two-thirds of the most at-risk counties are located in California, Florida, Illinois, and New Jersey. Counties in and around Chicago, New York City, and southern New Jersey are particularly vulnerable. While the housing market boom has led to increased home prices nationwide, disparities in affordability, underwater mortgages, foreclosures, and unemployment rates continue to impact different regions.
Overall, the report emphasizes the varying levels of risk across different housing markets in the U.S. as economic factors continue to shape the real estate landscape.
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