2008 foreclosures forecast released

[Daniel Stewart]

First American Core Logic released it's foreclosures forecast this last week, figured everyone would like to see some of the rankings by city.

Basically, what First American Core Logic does is rank cities on their likelyhood of foreclosures. It is based on job growth and loss, fraud, etc.

Rank City Annualized Home Price Appreciation
1 Bakersfield CA -16.9%
2 Stockton CA -18.7%
3 Fresno CA -16.2%
4 Warren MI -7.1%
5 Grand Rapids MI -5.8%
6 Riverside CA -16.8%
7 Sacramento CA -15.1%
8 Detroit MI -0.8
9 McAllen TX 2.6%
10 Youngstown OH -9.6%

Looks like it might be a buyer's market in California and Michigan this coming year.