That's not much of a surprise. The main reason why so many people bought homes they couldn't possibly afford was because the emphasis on approving loans was on the FICO and not the actual ability to pay the loan. How else can a cocktail waitress get into a $500K home? Vegas would probably have a very low ability to pay ratio
Cheap deals in Vegas right now, and they're only getting cheaper. Was looking at a 3/2 1650 sqft home with top schools and a pool for $152,000 a few months ago.
If they had any type of economy that wasn't directly associated with the Casinos, I'd move out there. But there's simply no jobs unless you want to be a casino worker.
If they had any type of economy that wasn't directly associated with the Casinos, I'd move out there. But there's simply no jobs unless you want to be a casino worker.
