It isn’t surprising that Las Vegas tops the list with 63.96% or 2 out of every 3rd home is underwater.
What is surprising is Las Vegas is way out front by almost 10% more than Phoenix listed 2nd at 53.96%.
Unemployment in Vegas is 14.2% well above the national average.
Here’s the list put out by the National Association of Mortgage Brokers (NAMB)
10. Bakersfield, CA
9. Lakeland – Winter Haven FL
8. Port St. Lucie, FL
7. Vallejo- Fairfield, CA
6. Modesto, CA
5. Orlando-Kissimmee – Sanford, FL
4. Reno-Sparks, NV
3. Stockton, CA
2. Phoenix-Mesa-Glendale, AZ
1. Las Vegas- Paradise, NV
Top 10 Cities with mortgages staying afloat
Price increases of 7% the largest in the nation per Vero-Forecast go to Hawaii also with the lowest unemployment rate in the nation at 5.5%. Hawaii has a general high demand for homes. Property in the islands, have a higher value then US average. Census Bureau’s stats puts 58.3% of Honolulu homes over $500,000 compared to national average of 10.5%.
10. Honolulu, HI
9. Pittsburg, PA
8. Oklahoma City, OK
7. Lancaster, PA
6. Huntsville, AL
5. Fayetteville, NC
4. Buffalo-Niagara Falls, NY
3. Albany- Schenectady-Troy, NY
2. El Paso, TX
1. Rochester, NY
