Richard Florida
by Richard Florida
Thu Mar 5th 2009 at 10:53am UTC


How big is the U.S. mortgage problem? Really big and really concentrated, according to the latest data. Twenty percent of U.S. mortgages and 62 percent of mortgages in Arizona, California, Florida, Georgia, Michigan, Nevada, and Ohio. With housing prices falling and needing to fall more, this is going to get much worse.

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