By Aarthi Swaminathan
Housing markets in some big cities are most vulnerable to declines if there’s a downturn, a report from Attom Data Solutions says.
If a major downturn hits the U.S. economy, homes in counties in New York City, Chicago, and Philadelphia are the most vulnerable to declines, according to a new report.
According to Attom Data Solutions, a real estate data company, housing markets near or in these big cities are at a heightened risk of being affected by a downturn in the housing market.
Counties were considered to be at risk based on a few factors, including whether there was a high percentage of homes facing foreclosure, a big share of underwater mortgages, as well as the county’s relative wages and unemployment rates.
Nearly 600 counties in the U.S. were ranked based on these categories. The data used was from the second quarter of 2022.
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