America’s Housing Casino Reviving After Steepest Drop: Mortgages

Renee and Dwaine McCuistion, who lost their Las Vegas home after defaulting in 2010, are feeling lucky again. They bought another property last month for $475,000, 42 percent less than what the previous owner paid.

“It’s like we won the lottery,” said Renee, sitting on the patio of the four-bedroom house at Red Rock Country Club beside Dwaine, her police officer husband. “With everything so low, we felt it was imperative to start building equity again.”