#5: Queens, New York
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The state of New York has not escaped the housing crisis, though it's done better than the other states on this list. Just over six percent of mortgages are in negative equity.
Queens is the second-largest borough, by population, in New York City and is the fifth most expensive urban area. Even so, people are eager to live here: The area has seen median home sale prices increase more than 53 percent to $524,299. (CBS News)