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Speculators driving foreclosures in Nevada

Southern Nevada's foreclosure rates are the nations highest, due primarily to investors walking away from their property. "Roughly 85 percent of actual auctions or repossessions of homes from March 1 through Aug. 31 involved properties not occupied by their owners," according to a report by Jeff German, Steve Kanigher and Alex Richards of the Las Vegas Sun. They were able to identify the investor-owned homes from owner-occupied foreclosures using property tax records. The story includes a map of Las Vegas-area properties that have either been auctioned or repossessed since January 2006.

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