Home News 13 California counties land on ‘riskiest housing markets’ list – Orange County Register

13 California counties land on ‘riskiest housing markets’ list – Orange County Register

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According to Attom, a real estate data analytics firm, California has 13 domestic housing markets that are most vulnerable to falling prices due to a potential recession.

Of the 50 highest-risk counties of the 575 surveyed, 13 are spread throughout California, including San Bernardino and Riverside. Nine are in and around New York City, and six are in the greater Chicago area, the report said.

All of these counties have high home prices, higher-than-home mortgage rates, above-average foreclosure rates, and troubling unemployment rates. The lowest-risk counties were concentrated in the South and Midwest, excluding Chicago.

After the pandemic-related boom, aggressive Federal Reserve policy tightening and rising inflation are weighing on the once-booming U.S. housing market. Rising mortgage rates have dampened sales and forced the increase in income needed to finance a typical mortgage.

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“Given the little progress we have made so far in curbing inflation, it seems increasingly likely that the Fed’s actions will push the economy into recession, and if that happens, Some housing markets will be more fragile than others. Executive Vice President of Market Intelligence at Attom.

slice of california

Here’s how Attom ranked 36 markets in California in a study of 576 counties. This includes the percentage of income required to purchase a typical home, the percentage of “underwater” homes (mortgages larger than the value of the property). and local unemployment.

Highest on the list is Butte County (Chico) at number 15, with projected housing payments contributing 49% of local income. 5.6% of homes are underwater and unemployment is his 7.7%.

Then comes…

No.17 Madera: Income ratio 48%. 16.0% underwater; 9.8% unemployment.

No. 23 Merced: Income ratio 49%. 7.8% underwater; 11.5% unemployment.

No.24 Khan: Income ratio 39%. 3.5% underwater; 11.3% unemployment.

No. 26 Shasta: Income ratio 42%. 8.3% underwater; 7.5% unemployment.

No. 28 San Bernardino: Income ratio 55%; 16.1% underwater; 8.5% unemployment rate.

No. 30 Kings: Income ratio 41%. 7.6% underwater; 10.9% unemployment.

No. 33 Riverside: Income ratio 68%. 6.7% underwater; 8.4% unemployment.

No. 40 San Joaquin: Income ratio 59%. 5.6% underwater; 9.6% unemployment.

No. 42 Humboldt: Income ratio 51%. 4.2% underwater; 6.9% unemployment.

No. 43 Turea: Income ratio 41%. 4.6% underwater; 11.7% unemployment.

No.45 Solano: 55% income ratio; 10.4% underwater; 8.3% unemployment rate.

No. 48 Fresno: Income ratio 45%; 5.6% underwater; 10% unemployment rate.

No. 51 Stanislaus: Income ratio 48%. 4.3% underwater; 9.5% unemployment.

No. 58 Eldorado: Income ratio 69%. 11.3% underwater; 6.4% unemployment.

No. 95 Los Angeles: Income ratio 66%. 17.5% underwater; 10% unemployment.

No. 108 Contra Costa: Income ratio 65%; 13.0% underwater; unemployment rate 7.3%.

No. 116 Sacramento: Income ratio 45%; 4.5% underwater; unemployment rate 7.8%.

No. 123 Monterey: Income ratio 85%; 16.1% underwater; 7.9% unemployment rate.

No. 137 Sonoma: Income ratio 68%. 5.6% underwater; 6.1% unemployment.

No. 138 Ventura: Income ratio 75%; 2.9% underwater; unemployment rate 6.8%.

No. 140 Yolo: Income ratio 56%. 22.5% underwater; 6.5% unemployment.

No. 147 Napa: Income ratio 83%. 7.9% underwater; 6.4% unemployment.

No. 165 San Diego: Income ratio 66%. 7.0% underwater; 7.3% unemployment.

No. 183 Placer: Income ratio 62%. 7.9% underwater; 5.7% unemployment.

No.199 Orange: Income ratio 82%. 5.3% underwater; 6.9% unemployment.

No. 201 Alameda: Income ratio 77%. 7.1% underwater; 6.9% unemployment.

No. 217 Nevada: Income ratio 68%. 6.6% underwater; 6.2% unemployment.

No. 220 San Luis Obispo: Income ratio 88%. 14.5% underwater; 5.9% unemployment.

No. 225 Imperial: income ratio 40%; 3.4% underwater; unemployment rate of 18.8%.

No. 228 Santa Barbara: Income ratio 76%. 15.9% underwater; 6.2% unemployment.

No. 346 Santa Cruz: Income ratio 116%. 6.6% underwater; 7.2% unemployment.

No. 359 San Francisco: 50% income ratio; 12.8% underwater; 5.9% unemployment rate.

No.380 Marine: Income ratio 110%; 3.8% underwater; 5.1% unemployment rate.

No. 445 San Mateo: Income ratio 55%; 8.5% underwater; 5.3% unemployment rate.

No. 459 Santa Clara: Income ratio 49%. 5.5% underwater; 5.4% unemployment.

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