by Geoff Dornan, R-C Capitol Bureau December 4, 2007
The head of an independent Southern Nevada research firm told lawmakers Monday nearly 60 percent of homes in foreclosure there are not occupied by their owners.
That means they are either rentals or homes purchased by speculators during the housing boom of the past couple of years.
Jeremy Aguero, of Applied Analysis in Las Vegas, said of the nearly 30,000 unsold homes on the market, 42 percent are vacant and another 11 percent occupied by renters.
Duncan said Nevada, California, Arizona and Florida are in the same situation and the cause is a mix of over-development and speculative investment.
http://www.recordcourier.com/article/20071204/NEWS/71204004
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