Uh oh: 80 percent of mortgages in Las Vegas are underwater

It’s almost 70 percent in Phoenix. In fact, Business Insider has a slide show listing the top twenty cities with mortgage trouble. Aside from Las Vegas and Phoenix, most of the problem cities seem to be concentrated in California and Florida. Nationally, 23 percent of all mortgages are underwater. Something tells me the real estate market has a long way to go before this gets sorted out.

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