Willingness to default on home loans has been found to increase in ZIP codes with high foreclosure rates, leaving foreclosure-heavy Las Vegas in danger.
The city also remains saddled with high rates of homes that are worth less than the debt owed on them, leading to an even more default-prone situation for many homeowners.
"Las Vegas, which leads the nation in foreclosures, is vulnerable. The recently released study shows that 17 percent of households would default even if they could afford to pay their mortgage if the equity shortfall reaches 50 percent of the value of their house."
FULL STORY: Underwater LV homeowners more likely to walk away, study says
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Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
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Learn the tools for implementing Universal Design in planning regulations.
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American Planning Association, Sustainable Communities Division
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