280,000 U.S. loans are now sitting in active foreclosure — the highest level in six years, according to Intercontinental Exchange Mortgage Technology. Moody’s chief economist Mark Zandi has escalated his warning to what he calls a “red flare” for the U.S. housing market. Here are the 10 U.S. towns where the collapse is starting first — including the one metro Wall Street’s own homebuilders are publicly conceding is broken.
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