Forbes.com has compiled a list of the 10 real estate markets with the most risk. Are you living in one of these areas right now? What makes these areas so risky? Let’s find out.

• 10. Atlanta, Georgia

  At number 10 we have Atlanta, GA. "Hotlanta" is not so hot when it comes to real estate. Overbuilding of condo's seems to be the big issue. Foreclosures are way up in the poorer areas. Overall, prices are down 7.1%.

• 9. Detroit, Michigan

  The Motor City has been in trouble for awhile now. The slow down of the US auto industry hasn't helped. The recent subprime mortgage meltdown has impacted an already economically weak area. Prices are down 7.7 percent.

  You've probably seen Michigan and Detroit in the news lately. I recall seeing several stories where people just abandoned their homes. Whole neighborhoods were being reclaimed by nature. It looked like a post-apocalyptic movie. Its hard to believe this kind of thing can happen in the US.

• 8. Jacksonville, Florida

  While prices didn't jump as high as other parts of the US or Florida, Jacksonville is still feeling the impact. Prices have dropped a whopping 8.7 percent. Maybe it's time to look for that water front property you've always wanted.

• 7. Phoenix, Arizona

  Another case of oversupply. The desert has bloomed with houses and now the bottom has fallen out of the market. Prices are down 9.5 percent.

  I have a cousin who lived in Arizona. They were looking to move back home (to South Dakota). When they first made their plans they were counting on a large profit. When they moved, they were lucky they even sold the house.

  My wife's cousin actually sold out of the Los Angeles real estate market and then bought in Phoenix. They sold out of Phoenix at the right time and moved to Minnesota. They made two killings and are doing very well now.

• 6. Miami, Florida

  Miami has been hit with a "perfect storm" of real estate problems. The overall economy has slumped. Add to the mix foreclosures, subprime lending and speculation and you have the recipe for a class 5 real estate hurricane. (I just can't resist the bad puns.)

  Prices are down 10.6 percent. You'd think with shows like Dexter and CSI Miami showcasing the bloody and brutal nature of Miami crime, they'd have a greater demand for real estate.

  Seriously, I really like Miami when I vacationed there. It's not everyday you walk down the beach with your wife and discover models tanning topless. (Miami Beach is top optional if you didn't catch that.)

• 5. Los Angeles, California

  Los Angeles, California, the city of angels, is home to movie stars and a subprime supernova. Mix together overpriced, hyper-inflated real estate with the right amount of lender and borrower speculation and you've got the recipe for the California real estate market. Prices are down 10.7 percent.

  Some of my wife's cousins used to live in Orange (this is a brother of the cousin I mentioned above, try to keep up). They bought a town home about 10 years ago. They saw the value of that property skyrocket. They sold at the right time and ended up with huge profit. They moved back to Minneapolis, Minnesota, where they purchased a very nice home. They got lucky. Those still living there didn't do so well.

• 4. Tampa, Florida

  Not much to say here, just too much speculation. Prices are down 11.7 percent.

• 3. San Diego, California

  Prices are down 17.1 percent. Forbes notes that 40 percent of sellers have reduced their price.

• 2. Las Vegas, Nevada

  Las Vegas, Sin City, and for the last 10 or so years, the city of the future. I remember quite a few TV shows featuring Las Vegas and it's incredible economic growth. I've been to Vegas quite a few times, however, it just doesn't seem like a good place to build a city. You know, the lack of water and all.

  There is too much inventory caused by rampant speculation. Prices are down 17.2% since last year.

• 1. Sacramento, California

  By now you should know the story. Builders built to much. Borrowers borrowed too much. Lenders lent too much. Prices are down 18.5 percent. I'm no expert on California real estate but if I were looking for a new house, now might just be the time to buy.