The Queen City of the Hudson River is home to Vassar College, an IBM plant, and foreclosed homes – lots of them. The metro area has a 92-month supply of bank-owned properties, the second-biggest backlog on RealtyTrac's Top 10 list. They're selling at a 28 percent discount. The area's employment grew 1 percent over the past 12 months and 2.5 percent over the past three years, which trails the national average of 4 percent. The median housing price is just under $200,000 and is up 4 percent over the past year, according to Trulia, an online real estate information site.