Location, Location, Location

by Russ Roberts on November 11, 2008

in Housing

Why is so much of the subprime mess concentrated in California, Arizona, Nevada, and Florida? Of the 20 zipcodes with the worst negative equity, 13 are in three counties–one in CA, one in NV, and one in FL. Is this just a random event? I don’t think so. But I don’t know the reason and I haven’t seen one.

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