Las Vegas Is Under Water

Figuratively-speaking:

U.S. home values fell faster in this year's first quarter than during any quarter since 2008. In Las Vegas, that tumble has left 85 percent of homes with mortgages underwater, according to online real estate service Zillow. Las Vegas had the country's highest rate of underwater homeowners. Nationwide, Zillow reported that 28.4 percent of homeowners with a mortgage owed more than their house was worth.