The Detroit area, hit hard by the double-whammy of unemployment and a slumping housing market, had the highest foreclosure rate in the nation last year, with several cities in California ranked close behind, an analysis of foreclosure activity in the country's largest 100 metropolitan areas shows.More....
Some 4.9 percent of the households in the Detroit metro area were in some stage of foreclosure in 2007 -- 4.8 times the national average, according to the study being released Wednesday by mortgage research company RealtyTrac Inc.
What they need in Detroit? Some more of those really snappy Jeff Bridges commercials where he talks about how wonderful Michigan is.
Well except for the crime, the foreclosures, the 10% unemployment, the horrible schools, etc.