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IPFS News Link • Economy - Economics USA

Las Vegas land prices: 80% off peak

05-21-2010 • CalculatedRiskBlog.com

During the past year, many landowners have simply turned properties back to banks. ... “The reality is the landowners are finding themselves underwater and servicing their debt, and it has become a challenge,” Gordon said. “Many have opted to let the properties go back to the bank, not unlike what we have seen in the housing market.”

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