13 Housing Markets in California Face High Risk of Decline

A recent ATTOM report highlights 13 California housing markets, mainly inland, at higher risk of decline due to affordability issues, underwater mortgages, and elevated unemployment rates. These areas, including Butte, Contra Costa, and Riverside counties, have seen rising housing costs outpace wage growth, making homeownership increasingly unaffordable. Similar vulnerabilities are noted in parts of New Jersey, Illinois, and Florida. The report emphasizes the need for affordable housing, job growth, and financial literacy to mitigate risks in these markets.