Underwater mortgages

Foreclosure epidemic affects families, businesses, city services

My wife has a melodrama that she performs using her index finger as the lone prop. The heroine is represented by a high squeaky voice and the index finger placed on my wife's head like a bow. The villain banker has the index finger for a mustache. The hero has the deep voice and a bow tie.

A Bank of America-owned home sits vacant this week in Las Vegas. A battle of perceptions is being waged over whether Nevada is on the edge of economic recovery or still falling four years after the collapse of its mighty housing, tourism and construction industries. (ISAAC BREKKEN/The Associated Press)

How Las Vegas became the epicenter of the housing crisis

LAS VEGAS -- If you want to know why this city was the epicenter of America's housing boom and bust, visit the Mountain's Edge community at the southern end of Clark County.

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