#3: Honolulu, Hawaii
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It wasn't just the mainland that was affected by the mortgage crisis -- Hawaii felt the pain, too. Currently, 10.5 percent of all mortgages in the state are in negative equity.
According to Zillow.com, median home sale prices in Honolulu fell 2.1 percent year-over-year to $426,000. That's less than the median asking price, which rose more than seven percent to $469,000. (CBS News)