Is it just coincidence that Vegas has the 2nd highest forclosure rates in the country

[MesaChaser]

I know the housing market in Vegas has enjoyed great gains in the last two years but I find it funny that they are almost leading the country in forclosures now. Lenders lending to high risk borrowers in a state where gambling is legal can't be a practice to build your business plan on. I say everyone at the RX wait till years end and go find some cheap housing in Vegas.

 

[kid44]

If I am not mistaken I heard a blurb 2 weeks ago that 1 in 49 homes in LV are in foreclosure. Blew me away.

 

[SonnySixKill]

Most of the buyers aren't gamblers. They all bought thinking they could flip the house and make a fast profit and lost their asses.