Posts Tagged ‘clark county’

1 in 7 Nevada homes are vacant

In Data, News on March 15, 2011 at 9:19 am

US Census data shows us the enormity of the housing problem in Nevada and why it will take decades to get out of the hole.

There were 167,564 empty houses in the state last year, according to newly released U.S. Census data, more than double the number in 2000. The number of vacant homes represents about one out of every seven houses across Nevada.

An interesting blip in the statistics is that Nevada has – simultaneously – the highest rate of mobility in the country and the worst market to sell a house.

More than 16 percent of Nevadans relocated to new residences within the state in 2008 alone, the highest mobility rate in the nation, the Census data shows.

So what does that mean? It means that Nevadans are not moving willingly, they are being forced to move. Without a doubt it is going to take Nevada many years to rebuild an economy capable of supporting the excess housing inventory and clear the vacancies.

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UNDERWATER – 71% of mortgages in Clark County, NV

In Data, News on February 8, 2011 at 2:41 pm

Chilling stats reported by USAToday show that more than 50% of residential mortgages in more than 17 counties are underwater.

Topping the list is Las Vegas.  As of September 2010, in Clark County, Nevada, home of Las Vegas, North Las Vegas and Henderson, 71% of mortgages are underwater.

Thats 71% of all remaining mortgages after the foreclosure crisis has already wiped out 10s of 1,000s of mortgages from 2007 through today.

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