Where in the US are the most foreclosures happening. Rank them 1-10?
Question:
Answer:
1. Detorit
2. Ohio
3. Indiana
...not sure of the order, but that is the top 3
The other answerer is pretty correct in terms of geographic locations -- California and the North East section of the country are also being hit hard.
In terms of where in the economy/market are the most foreclosures happening...
1. Subprime market
2. Subprime market
3. Subprime market
4. Subprime market
5. Subprime market
6. Subprime market
7. Subprime market
8. Subprime market
9. Subprime market
10. Everywhere else
That might not be 100% accurate, but it's pretty close. The subprime, interest only, Adjustable Rate Mortgage market is the one that's really hitting the hardest right now. Will the weakness there spread to other areas of the mortgage market? We can't tell that for sure yet, but if the subprime market gets hit hard enough, those homeowners will have less money to spend in other areas of the economy, causing a general slowdown, which might affect the rest of homeowners, as well.
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