According to the this chart from Calculated Risk 55% of homeowners in Nevada owe more on their house than it’s worth.
Somewhere I’ve read that 20-30% of homeowners do not have a mortgage, so it’s not this many homeowners who are upside down on their home. Still, it’s a lot of people! And what happened in Nevada? It looks like people walked out of the casino and into the realtors office in the same “double down” state of mind.
2 Comments
March 8, 2009 at 10:15 am
Maybe this is a good time to buy a house in Vegas?!
March 8, 2009 at 10:17 am
Then again, I guess selling your house doesn’t help, when you owe more on it than it’s worth. Still, I would guess that there are some deals to be had in Nevada, inside and outside the casinos.