2011-10-17telegraph.co.uk

``Las Vegas's days as a boom town are long gone. At 14 per cent, unemployment is the highest in America (the national average is 9.1 per cent). House prices have fallen 58.1 per cent since their 2006 high -- the biggest losses of anywhere in America, while according to the website RealtyTrac, which specialises in foreclosed properties, Las Vegas is the nation's foreclosure capital. Some 70 per cent of homes in Las Vegas are thought to be 'under water', or in negative equity, meaning their value is worth less than the amount owed on the mortgage, while foreclosure notices have been served on one in 16 properties. A survey last year by the local Las Vegas Review-Journal and Channel 8 News Now found that 34 per cent of locals would leave Las Vegas if they could find a job elsewhere, or if they weren't underwater on their home loan. ''


Lijit Search

Comments: Be the first to add a comment

add a comment | go to forum thread