Financial exchange traded funds (ETFs) continue to get hit hard as the housing market becomes riskier nationwide. Banks that make up the top holdings in financial ETFs are hesitant to lend money with the housing market’s current condition. Financial Select Sector SPDR (XLF), which contains big name banks such as Bank of America (BAC), Citigroup (C) and Wells Fargo (WFC) in its top holdings, exemplifies this.

Adjustable-rate mortgages, high vacancy rates and reduced prices that are still too high for locals are just a few of the factors determining where the worst riskiest housing markets are located, reports Matt Woolsey for Forbes.com. California leads the way with three cities, San Diego, San Francisco and Sacramento in the top 10.

Tags: Financial, Real Estate, Sector ETFs