August 31, 2010
Almost one in four American homeowners are underwater on their mortgage. Ouch!
Richard “The Baddest Man in The Whole Damn Town”* Florida has checked out which cities have the biggest debt and housing problems, crunched all the numbers, and popped out the Top 20 Cities – er, should I say the bottom 20** cities?
So, which 20 cities are the worst? Worst, meaning they owe more on their home than their home is actually worth.
4. Riverside-San Bernardino-Ontario
12. Port St. Lucie
13. Deltona-Daytona Beach-Ormond Beach
14. Lakeland-Winter Haven
15. Palm Bay-Melbourne
16. Las Vegas
17. Reno, Nevada
19. Provo, Utah
20. Greely, Colorado
* I made up the nickname for Richard Florida “The Baddest Man in The Whole Damn Town”. I am sure that he has a real nickname, but I haven’t a clue of it. If you know one, please let me know.
** Thanks to The Daily Beast for the list.