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Nevada: water, water everywhere!

vastleft's picture

70% of Silver State mortgages are underwater, followed by Arizona with a not-so-arid 51%.

Time to convene another access-blogger summit on the glories of Obama's economic-recovery programs?

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MoveThatBus's picture
Submitted by MoveThatBus on

I lived in a NW burb of Phoenix in 2004 & 2005....the peak of the out of control pricing increases, and the beginning of the downward spiral. My best friends were realtors, my boss was an established homebuilder, and everyone who came to visit wanted to house hunt for fun. So, I watched the market activity with great interest. Not one touch point in the home selling/buying industry wasn't taking advantage of the surge of investors who were driving the prices up at record rates.