If you're thinking about taking out a mortgage in one of the following areas, good luck. Not so good credit? Forget about it. And yet even with good credit, due to stricter underwriting guidelines, taking out that mortgage is looking pretty dismal.
Arizona: Entire State.
California: Entire State.
Florida: Entire State.
Nevada: Entire State.
Colorado: Denver-Aurora, Greeley
Baltimore-Townsen, MD; Bethesda-Frederick-Gaithersburg, MD;
Georgia: Atlanda-Sandy Springs-Mariette
Idaho: Coeur d'Alene
Massachusetts: Boston-Worcester-Barnstable Town
Minnesota/Wisconsin: Minneapolis-St. Paul-Bloomington
New Jersey: Atlantic City-Hammonton; Edison-New Brunswick;
Newark-Union; Ocean City
New York/New Jersey: Nassau-Suffolk; New York-White Plains-Wayne;
Virginia: Virginia Beach-Norfolk-Newport News-Winchester
If my calculations are correct, that is 21 states and their respective major metropolitan areas. A trend which is likely to spread to their more rural counterparts as well as to other states. Any system that is not supportive of human needs and seeks to grossly profit from it to boot is doomed to fail. To read the entire article, check out this link.