America's Most Underwater Housing Markets

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Las Vegas

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ETHAN MILLER—GETTY IMAGES

Las Vegas was ground zero for the housing market’s historic boom and bust. Home prices in Las Vegas fell more than 56 percent from 2006 through the third quarter of 2009. More than 81 percent of single-family home mortgages in Las Vegas had negative equity in the fourth quarter of 2009, according to Zillow.

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