New Jersey and Florida account for almost half of the 50 U.S. counties whose housing markets are most vulnerable to the economic effects of the coronavirus, an Attom Data Solutions report said.
Attom ranked 483 counties across the country based on the percentage of housing units receiving a foreclosure notice in the fourth quarter, the number of underwater properties in each county and the percentage of local wages required to pay for major homeownership expenses.
Thirty-six of the top 50 most vulnerable counties had median home prices in the $160,000-to-$300,000 range, the report noted.
Of the 10 most vulnerable counties, six are in New Jersey, including Sussex at No. 1 and Warren at No. 2.
"It looks like the Northeast is more at risk than other areas," Todd Teta, Attom's chief product officer, said in a press release. "As we head into the spring home buying season, the next few months will reveal how severe the impact will be."
Among the New Jersey counties that would be most affected, five are in the New York metropolitan area: Bergen, Essex, Passaic, Middlesex and Union. However, of the four counties in New York that Attom considered to be most vulnerable, only Rockland was in proximity to New York City.
Evan Ishida is a consultant with Winding River Consulting, serving the professional services industry in the areas of leadership, culture, and agile planning. He is also a partner at Thrive at Work LLC.
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Cathy Lanning serves as Senior Vice President for the Property & Casualty Marketing organization. In this role, she is responsible for the development and execution of integrated marketing plans for personal and commercial insurance products. Together with her team, she builds the brand and the Nationwide business leveraging data-driven direct marketing, partnerships, digital media, social media, cooperative agency marketing and lead generation strategies.
Most recently, Cathy led Strategic Partnerships where she established a large partnership portfolio with a data driven relationship-based selling approach. Together with partners such as alumni associations, cause organizations and sports organizations, Nationwide was able to understand the exact needs of a household and bring the right solutions at the right time to meet their protection needs. Under her leadership, the business unit grew by over 100% in five years.
Cathy joined Nationwide in 2007 as part of the leadership team that launched Nationwide Bank. Throughout her tenure at the company, she has held roles that require innovation, vision and team building. This includes establishing new digital marketing tools for agents, launching new products in the market, and establishing the Marketing Analytics organization. The Marketing Analytics organization delivered the first-generation marketing mix models, comprehensive digital analytics, and forecasting models, all of which helped Nationwide understand marketing effectiveness across channels and identified investment optimization pathways. The insights served the business lines across the company and opened new horizons for efficient growth and retention.
She has broad experience in brand management, analytics, partnership development, direct marketing, distribution marketing, innovation, product development and strategic planning. Prior to joining Nationwide, Cathy was the Brand Manager at The Scotts Company and Product Manager at WorldCom focused on Virtual Private Networks.
Cathy is a proud Ohio State University alumnus, holding a Bachelor of Science in Psychology, a Bachelor of Science in Business Administration (Marketing) and Masters in Business Administration. She is also a graduate from the Northwestern Kellogg Senior Women in Leadership program.
Outside of work, Cathy is a passionate advocate for education and community learning programs. To live this mission, Cathy serves on the board of The Ohio State University Alumni Association, The Girl Scouts of Ohio’s Heartland and The Wellington School.
For New York City proper, all five boroughs were in the middle of the list: Staten Island was ranked 161, Queens was 271, Manhattan at 312, Brooklyn at 320 and the Bronx was 327.
Most of the Florida counties considered at risk are in the northern and central portions of the state. But Broward County, which includes Fort Lauderdale, is also on that list.
There were four counties in the metro Chicago area on the list were Kane, Lake, McHenry and Will in Illinois. Cook County, which includes Chicago proper, is ranked 53rd most vulnerable.
Meanwhile, the only California county on the 50 most vulnerable list is Shasta. Los Angeles County was No. 276. The Bay Area counties were also in the bottom half of the list.
At the other end of the spectrum, 10 of the counties where the housing market is least vulnerable to the coronavirus are in Texas. Seven are in Wisconsin and there are five in Colorado.
King County in Washington, where Seattle is located, was the 20th least vulnerable county according to Attom.
