Detroit - Foreclosure Capital of US

MSN Real Estate is reporting that Detroit is ranked #1 in United States in terms of number for foreclosures. The report further states:

More than 10,000 homes in the Detroit area entered some stage of foreclosure in the third quarter, a 42% jump from the previous quarter and a 121% jump from the same time last year, according to foreclosures listings and RealtyTrac, a data provider in Irvine, Calif. To put that number in perspective: One in every 80 houses in Detroit began the process of returning to the bank in that time -- a rate that is almost five times the national average.

The top 10 Foreclosure markets are:

1. Detroit-Livonia-Dearborn, Mich.
2. Fort Lauderdale, Fla.
3. Denver-Aurora, Colo.
4. Miami
5. Dallas
6. Indianapolis
7. Fort Worth-Arlington, Texas
8. Atlanta-Sandy Springs-Marietta, Ga.
9. Las Vegas-Paradise, Nev.
10. Memphis, Tenn.