A new report from real estate firm ATTOM revealed the most vulnerable housing markets in an economic downturn due to high unemployment rates and low affordability.
As rent doubles in some parts of the country, some renters are relocating. FOX Business' Madison Alworth with the latest.that are most vulnerable in an economic downturn due to high unemployment rates and low affordability, according to a recent report from real estate data firm ATTOM.
"We’re witnessing a housing recession in terms of declining home sales and home building," Lawrence Yun, chief economist for the National Association of Realtors, said recently.ATTOM's report, based on gaps in home affordability, underwater mortgages, foreclosures and unemployment during the second quarter, showed that 33 of the 50 counties most vulnerable to potential declines were located in New Jersey, Illinois and California.
were spread out along northern, central and southern California. This includes Butte, Humboldt, Shasta and Solano counties in the northern part of the state as well as Fresno, Kings and Madera counties in central California. Additionally, Kern, Riverside and San Bernardino counties in the southern part of the state were also among the California markets most at risk.
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