California cities that made the top 25 list include:
Los Angeles, ranked number 2 with about 3,849,378 people.
San Diego, ranked number 8 with about 1,256,951 people.
San Jose, ranked number 10 with about 929,936 people.
San Francisco, ranked number 11 with about 744,041 people.
Texas, being the second most populated state in the country (25,507,783 people), had six cities that ranked in the top 25 list. These cities include: Houston, San Antonio, Dallas, Austin, Fort Worth and El Paso.
Listed below is the entire ranking of the top 25 most populated cities as of July 1, 2006, according to the United States Census Bureau.
Top 25 Most Populated Cities
1.New York (New York) - 8,214,426
2.Los Angeles (California) - 3,849,378
3.Chicago (Illinois) - 2,833,321
4.Houston (Texas) - 2,144,491
5.Phoenix (Arizona) - 1,512,986
6.Philadelphia (Pennsylvania) - 1,448,394
7.San Antonio (Texas) - 1,296,682
8.San Diego (California) - 1,256,951
9.Dallas (Texas) - 1,232,940
10.San Jose (California) - 929,936
11.Detroit (Michigan) - 871,121
12.Jacksonville (Florida) - 794,555
13.Indianapolis (Indiana) - 785,597
14.San Francisco (California) - 744,041
15.Columbus (Ohio) - 733,203
16.Austin (Texas) - 709,893
17.Memphis (Tennessee) - 670,902
18.Fort Worth (Texas) - 653,320
19.Baltimore (Maryland) - 631,366
20.Charlotte (North Carolina) - 630,478
21.El Paso (Texas) - 609,415
22.Boston (Massachusetts) - 590,763
23.Seattle (Washington) - 582,454
24.Washington (District of Columbia) - 581,530
25.Milwaukee (Wisconsin) - 573,358
To put these numbers in perspective, consider the fact that many of these cities have a larger population that several entire states. For example, while New York, Los Angeles, Chicago, Houston, Phoenix, Philadelphia, San Antonio and San Diego all have populations over 1 million, there are many states that have populations of less than 1 million. These smaller states with populations less than 1 million include: Montana (944,632), Delaware (853,476), Alaska (670,053), North Dakota (635,867), Vermont (623,908), and Wyoming (515,004). To keep updated on population estimates, visit the Census Bureau's web site.
The amount of Los Angeles foreclosures through this 2008 real estate year are even higher than previous to the past two years. The last time high numbers like this were seen for foreclosed homes in this area was back in 1996 with a record high of over 15,000.
Homes are depreciating rapidly and more homeowners are finding themselves in foreclosure and without a place to call home. Those who are not in default are realizing how badly their home has depreciated in the past two years making it almost not worth the amount paid for it.
Throughout the state of California, the average price per home dropped considerably. Some homes are almost worth $100,000 less than the purchase price.
Notices of default on Los Angeles foreclosures have reached an all time high as compared to the past fifteen years. That is almost two time as high as the amount felt in 2006 in the same area.
Many of the homeowners facing the foreclosure are just not able to catch up the back payments to keep the property. Almost 50% of homeowners in the area are finding themselves in default on their mortgages and moving toward saving their homes by refinancing or selling the home before the foreclosure is complete and their credit is affected. Los Angeles seems to be doing a bit better than other California areas with a lower amount of defaults listed. Southern California is the most affected by the slump in the real estate market today.
Both Real Estate Advisor & Joseph Smith are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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