Nevada Real Estate Market: Worst in the Nation?

Once viewed as a suburban promised land, Nevada is now something of an economic desert. The state's unemployment rate skyrocketed to 14.2 percent in June, more than any other state. Around 6 percent of Nevada's homes fell into foreclosure in the first 6 months of the year. But while Nevada's problems are more severe than most states, the causes of its problems aren't that different from elsewhere. Indeed, some economists fear that the entire U.S. will soon resemble Nevada if its real estate problems persist unchecked. Everybody place your bets.