Map of US cities where homes sell at discount to construction cost

Paul Kedrosky crunched the data and has it in map format. The cities are in a wide swath from Texas northeast to western New York. Interestingly, none are on the coasts or in the West and only a couple in the South.

Indiana, Ohio, and Michigan are the worst hit by far yet you never hear much about them except maybe for how Detroit is hurting. (I lived in Michigan for a while. When the economy catches a cold, Detroit goes to intensive care.) For those three states, it’s not a question of “if” a recession is coming. It already came.

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