Las Vegas Sun NewsLas Vegas sees drop in underwater homeowners, but area still hurting
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14 November 2012
9:01 p.m.
Las Vegas had fewer underwater homeowners in recent months but remained high atop the country’s hardest-hit list. Some 63 percent of Las Vegas Valley homeowners with mortgages were underwater — meaning their debt exceeded the home’s value — during the third quarter, or the three months ending Sept. 30, according to a report out today from Seattle-based research firm Zillow. That’s down from 68.5 percent in the period ending June 30. In both quarters, Las Vegas had the highest rate of underwater borrowers among the 30 metro areas tracked in the reports. Atlanta was second to Las Vegas each time. ...
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With all of the cash buyers that we've had in the past couple of years... I'm wondering what % of Southern Nevada homes even have a mortgage to begin with?
Heck... I think I know more people with No Mortgages then people with mortgages.
Las Vegas had the highest rate of underwater borrowers among the 30 metro areas tracked in the reports......
Regards,
Bizworldusa