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Report: Nevada Most ‘Distressed’ State
Foreclosures, Unemployment, Food Stamp Use Rising
POSTED: 7:38 am PDT July 20,
2009
UPDATED: 7:47 am PDT July 20,
2009
LAS VEGAS -- An index measuring foreclosures, unemployment and the number of people on food stamps is calling Nevada the most distressed economy in the nation.The Kaiser Family Foundation survey said one in 64 homes in the state faces foreclosure. Home prices, as a result, have fallen to levels not seen since the beginning of the decade.Last month, the Greater Las Vegas Association of Realtors reported the median price for a single-family home is $140,000, on par with 2001 prices.Survey: Have You Or Someone You Know Lost A Job In The Last Year?On Friday, the state announced that unemployment hit 12 percent statewide and 12.3 percent in the Las Vegas area, the highest levels since the state began paying unemployment benefits in 1976.
Copyright 2009 by KVVU.com. The Associated Press contributed to this report. All rights reserved.
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