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Published on Jan 26, 2012 by CBSNewsOnline
No other American city has a higher foreclosure rate than Las Vegas, where the great recession has left many uncompleted casinos on and off the strip. Anthony Mason reports on what happens when a state places all its bets on a single industry.
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Florida continues to be plagued by a high inventory of foreclosures. Nearly one in four mortgages there were either past due or already in foreclosure in the second quarter, according to the Mortgage Bankers Association.
Florida also faces the highest inventory of homes in foreclosure in the country: 14.4 percent of mortgages in the state currently are in foreclosure.
1. Florida (14.4%)
2. Nevada (8.2%)
3. New Jersey (8%)
4. Illinois (7%)
5. Maine and New York (5.5%)
mylissa1212 1 month ago
I live in Las Vegas and things are looking up and getting better, this CBS guy better get his facts straight. Las Vegas does NOT have the highest foreclosures anymore we used to be but now it's Florida we have dropped 88% people from out of state are moving here and people who live here are starting to buy homes. People are starting to come back to Vegas every weekend we are PACKED. The reason why the Sahara closed wasn't because of the economy it was because it was old. Google Las Vegas and see
mylissa1212 1 month ago
guess they better relax brothel rules. hookers and mining got vegas started
PrimeTargetSecurity 1 month ago
I was just in Las Vegas and all the casinos were packed. We had to wait in line for over an hour to eat at the Wynn buffet even. Everywhere we went it was packed with people. This is bullshit!
alwayson09 1 month ago