Majority of mortgages are underwater in Vegas, other growth areas

Where are people losing their butts on their mortgages these days?

I found this in USA TODAY, and it shows that a tick more than 71 percent of the mortgages in Clark County, Nevada, are underwater. That means more is owed on the house than what the house is actually worth.

Clark County, where you'll find places like Las Vegas and Laughlin, has also been one of the highest-growth areas of the country for at least the past decade.

Here is a partial list of counties where home buyers might do well to just junk the mortgage, take whatever lumps they get on their credit ratings, and walk away with what's left of their posteriors:

Rank County State Mortgages under water 1 Clark Nev. 71.1% 2 Osceola Fla. 66.5% 3 Merced Calif. 63.1% 4 St Lucie Fla. 62.4% 5 San Joaquin Calif. 59.6% 6 Stanislaus Calif. 57.5% 7 Clayton Ga. 56.1% 8 Orange Fla. 56.1% 9 Solano Calif. 55.6% 10 Maricopa Ariz. 54.4% 11 Washoe Nev. 53.3% 12 Pinal Ariz. 52.6% 13 Flagler Fla. 52.5% 14 Pasco Fla. 51.5% 15 Riverside Calif. 50.5%

Interesting mix. A whole lot of Florida. Several counties in California -- including Riverside County, where I grew up. Several Arizona counties, particularly around the population centers -- Maricopa County is basically Phoenix.

And unless I'm mistaken, nearly every one of these counties has experienced off-the-charts population growth for about the past three decades. The Inland Empire, which encompasses Riverside and San Bernardino Counties, was THE high-growth capital in the nation before the Las Vegas metro area took over.

Coincidence? Forget it. There ain't no such animal, you should know that.