Daily Real Estate News  |  November 20, 2008  |   Forbes: Where Home Values Are Falling Fast
As the U.S. government struggles to devise ways to keep struggling homeowners out of foreclosure, there are some parts of the country where the problem is much worse than others.

Forbes magazine used data from Zillow.com to identify cities where homeowners are losing value fastest. Cities like Sacramento, Calif., Phoenix, and Las Vegas don’t show up on the list because the massive numbern of foreclosures has already wiped out so much homeowner’s equity. Cities where owners’ equity is still dropping are places where prices were high and there is still plenty of room for them to fall.

Here are the 10 places where home owners are losing value fastest:

1. Virginia Beach, Va.
2. Yuma, Ariz.
3. Cumberland, Md.
4. Bakersfield, Calif.
5. El Centro, Calif.
6. Orlando, Fla.
7. Miami
8. Visalia, Calif.
9. Port Saint Lucie, Fla.
10. Salem, Ore.

Source: Forbes, Matt Woolsey