The nation’s economic recession does not seem to be nearing an end, with the studies showing that the foreclosure rate is up 25% since August 2009. ABC News covered the top 10 cities in the country with the highest rates of foreclosures and warned buyers interested in this real estate. “A town can have stunningly beautiful houses and they’re only work $100K because there are no real jobs,” said Professor David Reiss in an interview with ABC. “People can’t live [in certain towns] because there are no jobs. A home’s real value is related to the local economy.”
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