Where Recession Will Hit Hardest

Washington, D.C. - The economy faces a tough recession, but it won't hit equally everywhere. While some places will get pummeled, others will be far less scathed. California, Florida and Nevada, already spiraling into economic crisis, will get hit hardest in the coming months, according to our analysis. The reason: housing, which created their recent economic booms, and the accompanying bust. With the highest foreclosure rates in the nation, cities in these areas are dragging on all other parts of the economy. Nine of our 10 riskiest cities are in these three states. In Pictures: The Worst And Best Cities To Ride Out The Recession More than half the people in San Diego, Bakersfield and Riverside, three California cities which made our list, owe more on their homes than their homes are worth. In Riverside, the situation was... [read full story]