Upside down

According to the this chart from Calculated Risk 55% of homeowners in Nevada owe more on their house than it’s worth.

negative-equity

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.

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2 Comments

Filed under economics

2 responses to “Upside down

  1. donnafairy

    Maybe this is a good time to buy a house in Vegas?! 🙂

  2. donnafairy

    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.

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