Cities with the most homes in foreclosure
 

Miami and Vegas I knew about. Kind of surprised on some of the others. I thought for sure L.A. would be on there. However, the did not crack the top five apparently.

FULL STORY

Probably good places to invest, maybe a few more years before bottom his hit though.

I just moved from
1. Riverside-San Bernardino-Ontario, Calif.
to
2. Las Vegas-Paradise, Nev.

haha

Nah, bottom is now if you're thinking of investing.

Why do you think that? I want to believe, but . . . .

Well, Rochard told us over a year ago that Roseville was in the tank. As far as the Inland Empire, they did a lot of new construction and sold to people that could not really afford it. That one was pretty predictable.

Two words: shadow inventory

Just because something is cheap doesn't mean it's a good deal. Instead of assuming that now is the time to buy property in the Sacramento-Arden-Arcade-Roseville, ask yourself whether or not you feel that the area will be more desirable to more people in 5+ years.

NYC, at least Manhattan, always has a low foreclosure rate b/c coops make up a high percentage of the inventory and the approval process for even many of the condo boards is more difficult than the approval process to get a loan.

Some of my friends here in Denmark bought houses in Miami. Very very cheap and excellent houses.

Roseville California is the next town over. I didn't know it was that bad there.

We had a huge problem here. Exactly half of the houses on my street were empty. Now only one is empty, and it's for rent.