Word: nevadas
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...this for odds: If you have a house in Las Vegas, there's a 58% chance you owe more on your mortgage than the place is worth. Nevada, of course, is ground zero for the real estate bust - but it's hardly alone in having truckloads of "underwater" homeowners. As of December, 19.8% of mortgage holders nationwide had negative equity in their houses, according to a new report by loan-tracker First American CoreLogic. That tally, which takes into account both first and second mortgages, represents 8.3 million homeowners, 700,000 more than when the firm checked in September...
...According to the First American CoreLogic report, the states with the highest percentage of negative-equity borrowers are the usual suspects. After Nevada (55.1%) and Michigan (40%), Arizona (31.8%), Florida (30.3%) and California (29.5%) round out the top five. Those statewide averages, though, mask a lot of local variation. One pattern: exurbs, where homes are newer and loans more likely to have been signed during the bubble years, are harder hit. For instance, in the metro area that includes Los Angeles, 23% of homeowners are faced with negative equity. Fifty miles to the east, in the area that includes Riverside...
...people wager real money on these odds? No - the odds are for entertainment purposes only. The Nevada Gaming Control Board only allows us to take wagers on sporting events played in an arena. We still try to treat these odds like any others: we put them up on the big light board here in the sports book and print them out on sheets for customers to take home...
...string together, and Paglen has a slight tendency towards stunts - holing up in a Las Vegas hotel in an attempt to track workers flying to and from a secret military installation, for example -and digressions, writing of the exploratory history of inner Nevada, or delving deep into the minutiae of amateur satellite hunting. That's not to suggest that those discussions aren't good reading, for they are - Paglen somehow manages to make the movements of a spy satellite riveting - but rather to say that many of his parts are more intriguing than a somewhat diffuse whole...
...Emanuel would take the White House helm with some trepidation, he has since surprised many of the worried by courting them. One of his first meetings on Capitol Hill after taking the job was with the Senate GOP leadership. "He gave us all his personal cell-phone" number, said Nevada Senator John Ensign. "He said he promised to get back to us on issues within 24 hours." But Emanuel cannot count on these moments of goodwill to last for long. The position is not one for anybody who craves job security. Typically, chiefs of staff burn out or are eased...