From the Central Valley Business Times:
The Central Valley city of Stockton has the highest foreclosure rate among the nation's 100 largest metropolitan areas during the first six months of the year, according to RealtyTrac Inc., an Irvine-based online foreclosure information company.
With one foreclosure filing for every 27 households, Stockton, reports the highest foreclosure rate among the nation's 100 largest metro areas during the first half of 2007. The metro area, comprised of San Joaquin County, reported a total of 8,169 foreclosure filings on 4,239 properties, more than twice the number of properties reported in the previous six-month period and more than triple the number reported in the first six months of 2006.
Detroit, Mich., and Las Vegas, Nev., are second and third on RealtyTrac’s list.
Two more Central Valley cities are on the “top ten” list: Sacramento at fifth and Bakersfield at eighth.