Markets are considered more or less at risk based on the percentage of housing units receiving a foreclosure notice in Q4 2019, the percent of homes underwater (LTV 100 or greater) in Q4 2019, and the percentage of local wages required to pay for major home ownership expenses. Rankings are based on a combination of those three categories in 483 counties around the United States with sufficient data to analyze.
I don't think they are taking account the most important factors, which are are exposure to most effected industries. Anyone read any good reports on housing market effects or thoughts on this one?