A report from the Washington-based U.S. Conference of Mayors (USCM) predicts that the recent increase in foreclosures will result in a $166 billion loss to the gross domestic product and a $45 billion loss for the 10 cities hit hardest by the crisis. According to the report, the high foreclosure rate will slow the gross metropolitan product (GMP) for 128 cities by 2 percent in 2008. In addition, there will be 524,000 fewer jobs created next year, and $6.6 billion in tax revenues will be lost in 10 states. USCM recommends that cities organize ad campaigns to inform borrowers about counseling services to modify loans; increase the number of counselors available to borrowers; and educate young people about housing loans. The report is available at www.usmayors.org.