12 Of 20 Homes In Foreclosure In Upscale Development Create Mini Ghost Town

In Las Vegas, Nevada, KTNV-TV Channel 13 reports:

• The perfect example of America's mortgage meltdown can be seen in one Southwest Valley neighborhood. Nearly 75% of the homes inside one gated community [...] are in foreclosure and that is creating a virtual ghost town.

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• Action News talked to Penny Rodgers and her husband who still live in the community. "We expected it to be nice cozy neighborhood," explained Penny. Recently, 12 of the 20 homes in her development went under foreclosure, trading in their new neighbors for foreclosure signs and lock boxes. Most of the people who blew in and blew out of the neighborhood did not pay their home association dues and did not bother to fix what was broken.

For more, see Foreclosure Crisis Leading To A Vegas Ghost Town. neighborhood destruction from foreclosures kappa