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Paul Kiesel
Paul Kiesel
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10 Housing Markets That Will See More Losses

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According to housing statistics released by Money Magazine, below is a list of ten housing markets that are expected to see the most severe losses over the next 12 to 18 months. The trends show a continued depreciation of home prices and a steep increase in foreclosure rates. Florida will be hit the hardest, as five of the ten cities are in that state. The other cities are in either Arizona, California, or Nevada.

1. Miami, FL (12-month forecast: -24.9%) 

Prices forecast to hit bottom: April-June, 2010; Change in foreclosure rate: 370%

2. Fort Lauderdale, FL (12-month forecast: -22.2%)

Prices forecast to hit bottom: April-June, 2010; Change in foreclosure rate: 450%

3. Orlando, FL (12-month forecast: -21%)

Prices forecast to hit bottom: July-Sept., 2010; Change in foreclosure rate: 399%

4. Phoenix, AZ (12-month forecast: -18.3%)

Prices forecast to hit bottom: Oct.-Dec., 2009; Change in foreclosure rate: 9%

5. Las Vegas, NV (12-month forecast: -18.3%)

Prices forecast to hit bottom: Jan.-Mar., 2010; Change in foreclosure rate: 2%

6. West Palm Beach, FL (12-month forecast: -17.6%)

Prices forecast to hit bottom: Oct.-Dec., 2009; Change in foreclosure rate: 435%

7. Tampa, FL (12-month forecast: -17.1%)

Prices forecast to hit bottom: Jan.-Mar., 2010; Change in foreclosure rate: 281%

8. Riverside, CA (12-month forecast: -16.9%)

Prices forecast to hit bottom: April-June, 2009; Change in foreclosure rate: 299%

9. Tucson, AZ (12-month forecast: -16.9%)

Prices forecast to hit bottom: Jan.-Mar., 2010; Change in foreclosure rate: 14%

10. Stockton, CA (12-month forecast: -16.8%)

Prices forecast to hit bottom: April-June, 2009; Change in foreclosure rate: 379%