Tuesday, February 8, 2011
USA Today is reporting that, if I'm reading this chart correctly, over 70% of the homes in Clark County, Nevada (Las Vegas) are underwater--that is, they owe more on the mortgage than the value of the home.
If that's the case, then the impact of the continuing high employment in the area is likely to result in more walkaways. In turn, the downhill result of this is most likely less property tax receipts, more vacancies, and a continued lack of new construction (because supply outstrips demand).
This could lead to some very interesting land use trends in the Las Vegas area--namely, what do you do with a large inventory of vacant houses--many of which could be voluntary walkaways because of the underwater nature of the house.
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- Stephen R. Miller on Why are building inspectors so often on the take?
- Josh Hightree on What makes people leave rural areas, and what makes them stay
- Jessica Shoemaker on What makes people leave rural areas, and what makes them stay
- Jamie Baker Roskie on Why are building inspectors so often on the take?
- Stephen R. Miller on What makes people leave rural areas, and what makes them stay
- Land Use Law-Related Articles Posted on SSRN in February
- March 4-6: Stanford 2015 Rural West Conference: Preservation and Transformation: The Future of the Rural West
- March 3 - J.B. Ruhl to deliver Boehl Distinguished Lecture in Land Use Policy at U Louisville Law
- Is this blog post "advertising"? California's bar proposes bright-line rule for regulating attorney blogs
- Two upcoming RMMLF events: 61st Annual Institute (July 16-18 in Anchorage) and 17th Institute for Natural Resources Law Teachers (May 27-29 at Utah Law)