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Mortgage crisis is tarnishing Las Vegas boomtown image

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Posted on: December 3rd, 2007
Filed Under: Hispanic News, Las Vegas, Nevada, Real Estate
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“In America’s ultimate boomtown, the signs of economic trouble literally show up in the streets, with “for sale” sign after “for sale” sign stuck in the front yards of homeowners who lost their houses because they couldn’t afford to pay their mortgages.

Las Vegas, a national symbol of growth and opportunity, now suffers the highest rate in the country. Nearby Henderson – full of gated communities as well as moderately priced housing – now has more than 300 properties in or preforeclosure and some streets have as many as six houses in the process of being sold because the owners couldn’t keep up the payments.”*

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