Well, the amount of foreclosed property in Las Vegas continues to increase. I spoke to a lady over the weekend who had been foreclosed upon in Lake Las Vegas and she was not a happy bunny. Now – Lake Las vegas is a bit of an anomaly in that it is even more artificial than Las Vegas itself.
Some of the most drastic markdowns and short sales in United States real estate can be found in suburban neighborhoods. Stockton and Elk Grove California, both mostly suburban communities, together have the highest foreclosure rates in the country. Many analysts have been predicting for over a year now that suburbs will become the next slum neighborhoods, while urban areas will re-gentrify and become desirable again.
More on U.S. Suburban Foreclosures Linked to Gas Prices, Unemployment, Infrastructure Problems
