Despite "record demand" for homes in Clark County, mortgage defaults may rise in the Las Vegas metropolitan area in the near future, according to Foreclosures.com, a distressed property investment advisory firm based in Fair Oaks, Calif.Foreclosures.com president Alexis McGee said the Las Vegas economy appears to be "very healthy," with 35,000 payroll jobs added in the past year and unemployment at 4.4%. But "the resulting hot housing market is pushing median prices out in front of incomes," she said. "The percentage of income going to housing costs is now at 39% and heading into dangerous territory." Foreclosures.com can be found on the Web at http://www.foreclosures.com.
Processing Content
