Vegas Realty Crisis, Meet Reality TV: CNBC Flips Over Foreclosures
Filed under: Media, Real Estate
If America’s subprime mortgage crisis was an earthquake, Las Vegas would be the epicenter.
From 2008 to 2011, homes in the city lost approximately half their value. Meanwhile, its unemployment rate more than tripled. By 2010, nearly two out of every three Nevadan homeowners were underwater on their mortgages. As Business Insider commented recently: “[T]he subprime mortgage crisis” left “no major U.S. city … more devastated than Las Vegas.”
But all that suffering makes for great TV. Or at…
Vegas Realty Crisis, Meet Reality TV: CNBC Flips Over Foreclosures originally appeared on DailyFinance.com on 2012-08-01T13:16:00Z.
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