2012-09-13bloomberg.com

Nevada remains the only state in which the total value of single-family homes is less than the amount owed on them, according to second-quarter statistics released yesterday by CoreLogic (CLGX), a Santa Ana, California-based data provider.

A 57 percent drop in value since 2006 trapped two out of three Las Vegans in homes worth less than they paid and caused a steep decline in property-tax collections that -- in a state without income tax -- comprise a third of city and county budgets.


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