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Personal finance observation, musing and decisions in a journey toward financial independence by 36 with at least $1 million.

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The 13 Riskiest Housing Markets





Boston tops the list; followed by Nassau, Oakland and San Jose.

From Kiplinger's Personal Finance:

Another reason for concern: the growing number of houses bought as investments. Nearly one-fourth of purchases over the past year were investments, and "they're concentrated in a few markets," says Marco Van Akkeren, an economist for the PMI Group, a title-insurance company. He notes, for instance, that 44% of home purchases in Las Vegas over the past year were investments. Markets with a high proportion of investor-owners tend to be risky because investors often have little or no equity in their properties, and they're quick to sell at any hint of a downturn in property values.

So how do you know if your housing market is built on thin ice? There's more to it than simply identifying the areas with the strongest gains in home prices. Job growth, population, median income and affordability all play roles in determining which markets are vulnerable to price declines.

Working with PMI's Housing Risk Study, we pinpointed the 13 most treacherous housing markets.

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