Interesting article on the Atlantic's web site today regarding the apparent correlation between foreclosure frequency and levels of credit card debt in Florida and California. Based on this Forbes article, 8 of the top 10 cities in terms of credit card debt are in Florida and California.
You might also want to look at this Wall Street Journal blog post which contains a chart of 2008 changes in GDP, employment, and home prices by state. Guess which states led the nation in home price declines? If you said CA and FL you would have gotten 2 of the top 3 (NV is the "winner" here). Interestingly, according to this data, reductions in GDP, employment, and home prices do not necesssarily correlate.
