Forbes picks "Top 10 Riskiest Housing Markets". They almost got it right.

Here's their Top 10:

1) Miami
2) Orlando
3) Sacramento
4) San Fran
5) San Diego
6) Phoenix
7) KC
8) Cincy
9) Chicago
10) Denver

Here's HP's:

1) Miami
2) Phoenix
3) Las Vegas
4) Tampa
5) San Diego
6) Tucson
7) Boston
8) DC
9) Detroit
10) Naples

What are yours?

Riskiest U.S. Housing Markets

Those looking to spin the real estate roulette wheel might want to steer clear of Miami. It ranks first on our list of the nation's riskiest real estate markets.

There, a high share of adjustable-rate mortgages, high vacancy rates and slumping prices still too elevated for the local populous means should long-term bond yields climb, interest rates jump or the housing crisis linger much longer, things could go from bad to worse.

Our ranking of the country's riskiest markets measures which of the 40 largest metros are most vulnerable to future shocks. We've done this by assessing which have the most strained lending conditions, and which markets are the most overvalued and likely to face downward price pressures.

Why don't the monkeys who are paid to understand basic economics understand basic economics?

Why do housing "analysts" and the Fed continue to be "shocked" and "surprised" by the length, severity and breadth of the housing crash?

Are they truly that dumb?

I also love when I read in the MSM that "nobody" anticipated this decline. Uh, ever read HP or any of the other bubble blogs? Or read The Economist?

I understand when realtors, mortgage brokers, homedebtors and shoe shine guys don't understand this stuff. Especially considering the pathetic state of the American education system and dumbing down of the MSM. But come on, you're telling me The Federal Reserve doesn't get it? IF that's true, that's pretty scary.

Maybe we should send a copy of Manias, Panics and Crashes to all of 'em. You'd figure in economics class (assuming to become an "analyst" you have to go to college) they'd cover this stuff.

After the biggest bubble and financial mania in the history of humanity, you'd think they'd understand that it's a long, long way back down.

Fed sees housing correction dragging on

The correction in the US housing market will “probably persist longer than previously anticipated”, Federal Reserve policymakers judged at their last meeting, according to minutes released on Wednesday.

The minutes show that Fed officials meeting on May 9 were concerned by the decline in new home sales and the rise in the inventory of unsold homes relative to the rate of turnover.

Most of the members of the Federal Open Market Committee felt that weak residential investment would “continue to weigh heavily on economic activity through most of this year” – longer than expected.

Post-houisng-bubble regulation: Will the REIC and MSM have to expose conflict of interest in the future?

One good thing that came out of the dot-com collapse is that analysts and media have to expose when they have any potential conflict of interest - stock holdings, investment banking relationships, etc.

Well, as we all know, that doesn't happen today with real estate.

You have people like The Corrupt David Lereah out there cheerleading housing, while speculating in investment condos, having his salary paid by six percenters, and making money off of "housing never goes down" books.

You have Nicholas Retsinas at Harvard's Joint Center for Housing putting out "there is no bubble" statements, when his salary is paid for by the who's-who of the REIC.

You have MSM reporters cheerleading housing because their salaries are paid for by REIC ads, and on a personal level their house is their biggest financial asset (or risk). In other words, their entire career and financial well-being rests on house prices going up.

And you have real estate clerks giving their expert unbiased views to the MSM on how we've "hit bottom" and how "it's a great time to buy or sell", when the only thing standing between them and a lifetime of Top Ramen is getting suckers to believe that it's a great time to buy or sell.

Real Estate and stocks should be treated the exact same way. Anyone with a vested interest in the asset in question should be required by law to expose their potential conflicts.

Until then, the public will continue to be duped, conned, lied to, deceived and crushed.

HousingPANIC full disclosure: I don't own any real estate thank god.

Casey Serin at Iamfacingforeclosure.com is considering living in his car

I've got nothing to add to that headline. But I'm guessing you all do...

I have to come up with 2 months of rent money plus May’s payment by tomorrow. And there is even talk of pre-paying 2 months in advance if we are to stay here. Even though I don’t think my sister-in-law is going to kick me out, there is always that chance.

The thought of living in a car or a van has crossed my mined a few times. Apparently, I’m not the only one thinking about it. Living in cars after being priced out of housing is a growing trend according to last year’s New York Times article Keeping It Secret as the Family Car Becomes a Home

Post-housing-bubble new city catch phrases

Here's five housing crash cities. Come up with your post-bubble mottos. Here's a few for starters:

Phoenix - There never was a there there

Las Vegas - Loser city of losers losing money (hat-tip anon HP'er)

Miami - I guess we'll go back to dealing hookers and cocaine now

San Diego - Mexicans still love us!

Washington D.C. - Anyone want my condo? Anyone? Anyone!