On today’s show we’re talking about the rising risk of defaults in the US residential real estate market.
There is a real estate data company called ATTOM. They’re based in Irvine California. The specialize in correlating data from numerous sources to create data that is uniquely useful in ways that raw data might be more difficult to use.
They just issued a new report on distressed properties in the US and they’ve highlighted which counties in the US have the highest rates of defaults and foreclosures. This risk report shows which counties are at highest risk.
The report shows that New Jersey, Illinois, some of the inland counties in California are home to 30 out of the top 50 counties in the US most vulnerable to potential declines.
Eight of these counties are in the Chicago area, six are near NYC and 10 sprinkled through northern and central and southern California.
If you want to be ahead of the game in the upcoming downturn in the housing market, it might be worth researching those counties that are most at risk and putting your systems in place to capitalize on helping owners those markets.
Host: Victor Menasce