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Most underwater cities in America

Las Vegas leads the pack.  I think this chart is not accurate, though.  I think the ratio is far greater than 119% property/mortgage debt.  Just two years ago, we were $170,000 underwater on a $300,000 mortgage.  We were not the odd man out, either.

2 Comments

  1. Not so far far fetched, really. The numbers are deceptive. If 50% of the homes are paid off and owned in the clear (think retirees in their 70’s) the remainder would be mortgaged to the tune of 238%, and statistically, over half of those would be over 300%.

    Posted on 22-Oct-11 at 22:09 | Permalink
  2. CombatRob

    Good point. When laid out like that, it’s entirely feasible.

    Posted on 22-Oct-11 at 23:24 | Permalink

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