There is great concern on the minds of many today about the decline in home values in the Northeast and in California. After experiencing tremendous losses in Texas and Alaska in recent years, mortgage holders and guarantors are watching developments with a worried eye.

The newly booming $ 100 billion mortgage-backed-securities industry is facing falling ratings and nervous buyers. California and the Northeast make up 25% of the country in population and labor force, but because values are high, the two regions account for much more than 25% of the total mortgage debt.

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