Foreclosure filings for urban U.S. homes rose 78.2 percent in 2007, to 1.775 million, RealtyTrac said. Four states—California, Ohio, Florida, and Michigan—collectively contained 15 of the 20 metropolitan areas with the highest foreclosure rates. Detroit had the highest rate, with nearly 5 percent of its homes entering the foreclosure process last year. (Reuters)
of The Week magazine.