What happens in Vegas, stays in Vegas — particularly crippling debt.
Jack Healy of the The New York Times wrote a feature story on the city’s housing scene. Thousands of people owe more than their homes are worth, still reeling from the housing crisis.
Las Vegas home values are actually recovering, but many residents are in way too deep for it to matter. The Times profiled one homeowner that built a dream house overlooking the Strip in 2006. The recession and housing market crash destroyed his neighborhood and has left him $800,000 in the hole.