Some foreclosure and eviction cases can be heartbreaking. However, we live by rule of law in this country, and unless we want to start giving away real estate to those with the saddest story, these evictions must take place. Elderly woman, 101, in tears as she’s evicted from her home and her possessions are thrown into dumpster Texana Hollis’s son failed to pay her property tax Detroit woman had lived at her home for 58 years Rushed to hospital after eviction over heart attack fears By Paul Thompson Last updated at 7:44 PM on 13th September 2011 A 101-year-old woman [Read More...]

Many people leave Las Vegas broke. Most of them lost their money in games of chance, but the latest casualties of Las Vegas were ordinary home owners who bought homes. Unlike many markets where only the most indebted late buyers and HELOC abusers have been washed out by falling prices, in Las Vegas, prices have fallen so low that ordinary buyers from before the bubble who paid down their mortgage find themselves deeply underwater, unable to move, and hopeless. Those owners are the true victims of the housing bubble because they didn’t do anything foolish. They happened to buy in [Read More...]

In the cleanup phase of the Great Housing Bubble, the lucky ones are those profiting from recycling the dead carcasses from yesteryear. I have been sifting through the debris in Las Vegas for about six months now. For a variety of reasons, I have been mum on my activities, but today I am going to share some anecdotes and lessons learned from my new adventure. The most important of these lessons relates to the topic of today’s featured article. According to the US Census Bureau, there are 167,564 houses in Nevada. That’s a lot of empty homes — which is [Read More...]
