Posted 12/8/2023, 7:51:10 PM
Housing Markets in California, New Jersey, and Illinois Face Uphill Climb as Foreclosures and Underwater Mortgages Persist
- Counties in California, New Jersey, and Illinois have the most at-risk housing markets due to high foreclosures, underwater mortgages, and unemployment
- The housing market is expected to rebound in 2024 as mortgage rates fall, but some local markets remain vulnerable
- 33 of the 50 most vulnerable housing markets are in California, New Jersey, and Illinois
- In the most at-risk counties, over 5% of mortgages are underwater and unemployment is over 5%
- The South, Midwest, and New England have the most secure housing markets