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| More Americans face losing homes | |
| (10 minutes later) | |
| A surge in the number of Americans at risk of losing their homes means 1% of all households are in some stage of the foreclosure process, a report says. | |
| There were 2.2m foreclosure filings in the US last year, up 75%, according to the market research firm, RealtyTrac. | There were 2.2m foreclosure filings in the US last year, up 75%, according to the market research firm, RealtyTrac. |
| Foreclosure is the legal process taken by mortgage companies when homeowners fail to keep up their loan repayments. | Foreclosure is the legal process taken by mortgage companies when homeowners fail to keep up their loan repayments. |
| Separately, a Standard and Poor's report showed home prices fell 7.7% in the year to November. | |
| Leaving Las Vegas | Leaving Las Vegas |
| The index measured the prices of family homes in 20 cities. | The index measured the prices of family homes in 20 cities. |
| Miami recorded the biggest decline, down 15.1%, followed by San Diego and Las Vegas. | Miami recorded the biggest decline, down 15.1%, followed by San Diego and Las Vegas. |
| Only three cities, Charlotte, Portland and Seattle, were higher over the year to November. | Only three cities, Charlotte, Portland and Seattle, were higher over the year to November. |
| The index is considered a strong guide to the US housing market as it tracks the price change in the same properties over a period of time. | The index is considered a strong guide to the US housing market as it tracks the price change in the same properties over a period of time. |