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Mona Shield Payne / Special to the Sun
U-Haul Moving & Storage General Manager Mike Lanza, left, assists a family renting a 17-foot truck Tuesday for their move from Henderson to Sparks.
Thursday, Sept. 2, 2010 | 2 a.m.
Jeremy Aguero
John Restrepo
With emerging signs of economic recovery across the country, a slow but steady stream of Las Vegans is moving away in search of better luck, in stark contrast to the unprecedented influx of residents during the region’s boom years.
“People are moving out more than usual,” said Sherry Clark, a sales representative for the moving company Allstate Moving in Las Vegas.
Among U-Haul rentals, more are heading out of town than arriving, by a 2 percent margin, said Joanne Fried, U-Haul International director of media and public relations. And outward traffic is slightly higher this year compared with 2009.
Mayflower Transit and United Van Lines moving companies have reported decreases in incoming and outgoing traffic for Clark County since 2007, but the number of people moving to the valley has plummeted more than the number leaving.
Among those leaving is a 30-year-old plumber and mechanic who swayed his 2-year-old daughter in his arms, trying to keep her entertained while awaiting the keys for a 17-foot U-Haul truck he would drive from Henderson to Reno. After 10 years of trying in vain to find a steady job, he is giving up on Las Vegas.
“You can’t find work here,” he said, declining to give his name.
The Census Bureau estimates that from July 2008 to July 2009, the migration out of Clark County exceeded the migration in by more than 1,000. The year before — when the recession wasn’t as severe — the opposite was true, with inbound exceeding outbound by more than 14,000.
Jeremy Aguero, principal analyst for the consulting firm Applied Analysis, said he expects that outbound migration will continue to overshadow incoming migration. Fewer driver’s licenses have been surrendered at the DMV compared with past years, meaning fewer people have been moving here and turning in their old licenses, he said.
In July, 4,683 licenses were surrendered, down 3.3 percent from 4,845 in July 2009. The figure has been dropping since 2004, when 8,889 licenses were surrendered in July, the highest on record, Aguero said.
There has also been an increase in one-way bus tickets out of Las Vegas, he said.
Some analysts say they had anticipated even more people leaving Dodge, and suggest the reason is that many residents are struggling to sell their homes or have not been able to find work elsewhere. The national unemployment rate is 9.5 percent, compared with 14.8 percent in Las Vegas.
“We’re in such bad shape here you’d think a lot more people would be leaving,” said John Restrepo, principal analyst for Restrepo Consulting Group. “And maybe they would if they could, but they’re kind of stuck.”
The Greater Las Vegas Association of Realtors reported that 3,748 homes were sold in July, down from 4,602 in July 2009. The number of homes for sale without any pending offers has risen more than 10 percent, which may indicate that people who want to leave can’t. But it could also mean more people are trying to find cheaper housing.
Occupancy at extended-stay motels has also fallen sharply, bringing with it lowered room rates to entice business. For example, occupancy at the valley’s Emerald Suites declined from 75 percent in 2006 to 48 percent six months ago. Room rates were reduced about $20. At Siena Suites, occupancy went from about 85 percent to 65 percent.
Managers at U-Haul stores have noticed more last-minute move-outs. Instead of making reservations for a truck, a lot of residents are renting vans on a walk-in basis. Elmer Veatch, manager at a U-Haul store on Boulder Highway, said this may mean many people are being forced to move with little notice.
David Stevens, a 35-year-old Henderson resident, rented a 26-foot U-Haul truck this week to take his father’s furniture to California. He said his parent had gone to San Francisco because of medical issues but planned to return to Las Vegas to be with his grandchildren. Then his Las Vegas property lost half its value.
“He was going to move back out here, but the economy tanked and the house market crashed,” Stevens said.
So Stevens spent the day filling up the truck with bedding, sofas, tables and other furniture to make the 12-hour drive.
He added that many of his friends have left town for Arkansas, Utah and other states because they’ve lost jobs.
more tax cuts for the rich, that'll solve everything. wake up you crazy teabuggers, all they care about is the MONEY, they could care less about your stupid social issues
The bright lamp that was once Las Vegas is now dimming as the economy here continues its decline. Still our politicians plan to urge more building of homes, shopping centers, roads, highways, resort communities all the way up the mountains surrounding this valley and yes, even a major league sports stadium downtown. What folly! This city is in serious decline because of the economy, the deteriorating water supply problem, the environment and desertification increasing all around the surrounding western states. This is the beginning of the end of the dream that used to be Las Vegas. Greed and the drive for more and more riches by politicians, big business, construction firms, etc has placed this community in this dire situation. We have very few local politicians with any real leadership skills but loaded with vast ideas and fantasies. We may very well become a very wealthy ghost town of the near future...no water...no sustainable culture...no people...the end. The Mafia boys of oldtime Las Vegas are spinning in their mosoleums or undiscovered desert graves thinking about this. I have lived here all my 73 years and I see no hope for improvement because of the contuing local greed.
I will believe the fable of the demise of Las Vegas when all the whores leave.
Will the last one out please unplug the slot machines?
I think it is a good thing, Las Vegas received to much to fast, People came in to make money on the housing market by flipping and that did the city and surrounding area no good but raise the prices to where locals couldn't buy. The Area needs to get back where it was, and the same goes to all the areas affected by the housing boom California, Merced county was another Area hit by greed. Its going to take awhile but thing will come back to a normal way of living again.
Alright Harry Reed!!! Way to downsize our population. All this time, I just thought you were incapable of sustaining a respectable economy in LV.
Now I see your plan. Kill jobs in LV, so the population will decrease. Great for the environment! Save water! Go Harry!
This is great news! Everything has a way of leveling out - getting back to equal - finding a good medium. Las Vegas is a great city, but it is not meant to hold 2 million residents. Once enough people move out of Las Vegas, everything will start to level out. Jobs will be available, housing prices will start to level out and eventually climb, and prosperity will return. Once things level out to the right amount - self correction will take place. Housing prices need to self correct - that is the way it works. A house that was built for $75,000 and sold for $135,000 in the year 2000, is not worth $400,000. And that is what happened. That same house is now worth about $140,000 and sold for the same amount. This is self correction. Once enough people move out of here you will find that their are X amount of jobs available for X amount of people.
Have a great day everyone!
[...]"People are moving out more than usual," [...]
With this realization, finally, our public unions will reduce their demands and $$benefits to coincide with less to serve.
Hang in there Las Vegans, this in a sense is good for the valley. Many of the strap hangers on the gov't roles will leave the area. The economy in the area will eventually stabilize and those who contibute and hold jobs will stay to keep it moving. Those who do not will move to the California Welfare State...
Vegas failed because there was no controlled planning during the boom period. It was like giving a teenager a billion dollars; and making a drunk uncle the guardian.
Comment removed by moderator. Off-topic.
Vegas' struggles have nothing to do with having no master central planner - those don't work either.
Vegas is suffering from a combination of 1) housing market crash 2) construction crash 3) general recession leaving tourists with fewer disposable dollars and 4) a state legislature that kicked the people while they were down with two historical tax increases within a single decade. Wealth that could be used to fuel economic growth and development and restore jobs in the private sector is being used to sustain government jobs - several of which have questionable value even before you consider how generously they are paid.
The more people who leave this city the BETTER!! The down side of all of this is that unfortunately the ones who are vacating are the educated, and productive ones who enhance a city. We are left with the uneducated, poor welfare folks who turn to desperation with drugs, crime etc.
H'mm. Don't forget our President recently suggested, to the nation, that people should avoid coming to Las Vegas to vacation. One has to believe that took a lot of dollars away from the L.V. economy.
Well after 20 years of living in Las Vegas, I left a good paying job and family and in June moved to Madison Wi. Too many people out of work and on drugs to keep up with the madness. I wish the residents of Las Vegas the best.
This is fantastic news. Rebalancing takes time. Housing needed to slow (cost), residents needed to drop (water). the strip needed to realize they were not New York with everyone being able to afford high end things.
This is just the start of Welcome Back Las Vegas!
That's what we need. Hurry the exodus up.
Someone should teach Samjung what runs this city and keeps it thriving because he seems a little confused about pulling the plug on slots. Please join the exodus.
Comment removed by moderator. Off-topic.
Let's count our blessings:
No more 3 to 2 on Blackjack
Superb schools for hookers and dealers
Crumbling roads
Politicians and perverts, power and powder
Drugs on the strip, mirrors, kids, etc.
Yep, honey, time to go!
Well people just know the next bubble is about to burst and that is commercial real estate. How many empty office buildings and malls do you see I see alot and these developers are walking away, there is a large business complex off 215 and N Durango at least 6 stories that is totally empty no one there at all and has not been since it was completed almost a year ago, I am sure the developer owes the bank and can't pay it no one in the building to pay rent to pay the developer to pay the bank. I know we ALL see these instances everywhere n this town and we as tax payers are going to have to pick up the bill. So you see it is not just housing it is commercial as well. Get ready.
Downsizing of the city is certainly not a bad thing. If you don't like it here and have the means to leave, please do. The less negativity around here the better. Of course when things do rebound, they will be the first ones knocking on the door trying to take advantage of the good fortunes. Don't come back now, ya hear?!
Used to be just the heat was oppressive in Las Vegas. Now we have to contend with cops and robbers gone wild, traffic congestion, increasing taxes and every immigrant getting a job before the natives. Yeah, good luck with all that.. all the charm of Atlantic City (except their property prices haven't fallen as sharply). Las Vegas is too big to become a Nevada ghost town, but it's just the right size to become the next Detroit.
This is just a much needed correction to the population surge created by the bubble years. The sooner the area is flushed of excess population the better. That may sound harsh but that is what is needed.
nancyb,
Your way to late. THe commercial real estate bubble already burst and anyone that can read knew it a year ago.
Shopping centers have been selling for 25 cents on the dollar all this year. Commercial vacant land for even less.
Easy to predict something that has already happened.
Getting the valley back down to size is not a bad idea. It will grow again. This is not the first time this country or Nevada has experienced this. It always comes back bigger and better.
Those that hate this valley need to find a place in life they enjoy. Those of us that have done well here and love it here will keep it going.
Can't say that I don't see the benefits of a smaller population here, particularly with a lot fewer illegals. But, does anyone have any ideas on how to deal with all the decaying properties?
Las Vegas should invest in a airine. trying to book a flight to Vegas from Newark in a Comercial airline is ridicules.Ideal flight times are double. I use to vist Vegas 3 times a year, With the required booking in advance. I Haven't been to Vegas in 3 years. AC is convenient . Booking flights to Vegas is ridiculis.AC shows are usually comp. The $150. shows in Vegas is to expensive besides Gambling with a poor comp.
Bad for the Democrats. The poor get run off, the nevada way.
Get out!!
The very first sentence in this article is misleading: "With emerging signs of economic recovery across the country...". I don't know what country the author is referring to, but it's not the USA. Specifically, what signs of recovery? At best, any 'signs' of recovery are highly debatable. This being a an article in a gambling state I'd bet real money that for every 'sign' of recovery the author can cite, I could either rebut it or counter it with an offsetting statistic/item. IMHO the economy is still in a downward spiral, a fact that many Las Vegans must agree with due to their departure.
Thanks Harry for all you've done!! All those jobs you saved, all those jobs you created...Oh by the way, what are your plans for your retirement after 11/02/10? buh bye Harry!!! Thanks for your help in destroying this state!
more tax cuts for the rich, that'll solve everything. wake up you crazy teabuggers, all they care about is the MONEY, they could care less about your stupid social issues
Everyone screams about the rich (The Democrats in Congress have more overall net worth than Republicans), but they are the ones that create jobs in this country. Lower taxes equals more investment in the private sector.
Lets all blame greed, carpetbagers, etc, the comments could have been from just about any city. The world is not a linear ride, it cycles up and down. You either profit from the cycle or you you lose because you bet wrong. Making money makes jobs. The economy is really down everywhere. That's why there are no jobs being made, why there is high unemployment. Losers are just jealous of winners. Fix the economy by making it easier to make money, that makes jobs, and you will all stop crying. Be glad you are not Cleveland, Detroit, with no tourist business to prop up the lack of non service jobs. Just stop the government spending and the world will right itself.
hey, if i could i would ditch this corrupt useless worthless jobless town myself. good luck and congrats on anyone wanting and actually leaving this dump. you will no longer have to worry about getting shot by your local PD also! thats a nice perk!
Who stays in town "ten years" without finding a steady job? Someone with some kind of anti-social problem, that's who.
This is great news; we are overpopulated by 50%. when the bottom feeders are gone, Vegas will return.
The valley has fallen onto tough times. The housing bubble which was driven by greedy Realtors, Mortgage Brokers, Flippers, and others crashed the economy. People moved to Las Vegas out of greed. Now many of those people are again looking for greener pastures having found that the glitter was nothing more than a mirage. Many of the greedy Realtors left town while greedy Mortgage Brokers changed their businesses to bogus mortgage modification people. The flippers abandoned what they couldn't sell. The buyers either lost their jobs or turned in their keys because of an upside down mortgage after they paid super inflated prices on their houses. Las Vegas could go the way of Atlantic City which is drying up itself because of competition from neighboring states. Las Vegas probably won't return to its glory days.
It's nature's way --
Things that go up -- come back down.
It's nature's way --
Things that go up fast-n-far -- come back down hard-n-heavy.
It's nature's way --
Whether you're moving or standing still -- change occurs.
It's nature's way --
Capture the moments -- they'll soon be memories.
It's nature's way --
What comes in -- eventually goes out.
It's nature's way --
: {
"With emerging signs of economic recovery across the country,"
Spreading the LIE, eh? THERE IS NO RECOVERY.
Last week/few months, the recovery was PROCEEDING, not its "STARTING"
Typical to observe Children lying like this when they have to switch among stories to attempt to cover their tracks.
Two things drove Las Vegas' growth over the last two decades. First, Nevada imposes no state individual or corporate income taxes. Second, the native-born population of California is leaving that state because it is poorly governed and so many foreign immigrants live in California that most Americans are no longer comfortable having their children attend California public schools. The current recession is freezing a lot of people in their current homes and is particularly hurting places like Nevada and Florida that rely on migration of U.S. citizens from other parts of the country for growing their respective economies.
I predict that Nevada's economy will continue to grow more quickly than the rest of the country over the long run because it still has no income taxes and California will continue losing its native-born population. The current situation is just a temporary downturn.
These are all blue collar workers leaving. Which construction is dead, so its obvious.
The "Dave Ramsey Show" (heard on about 500 stations nationally, I think Limbough is heard on 680?) tells people that "gambling is stupid...and he doesn't do it." He's always bragging about how rich he is.
He also tells people not to eat at restaurants or spend money until their house is paid off. 76% of Vegas homeowners are upside-down, so that represents a large number of people. It will be along time, if ever, that those houses are paid off.
Local Vegas station KXNT broadcasts 3 hours of Ramsey each day. Who would advertise on a station that tells it's listeners not to spend money???
Mistermoose:
"Well, there are no quality jobs here and the schools are terrible."
Then why did you move to Las Vegas???
Itsumo and others like you: Get some perspective. The tale of the death of Las Vegas is an old one. It's never come to fruition. I kindly suggest you leave town, as it's not the place for you. Las Vegas's history did not begin with the housing boom and it will not end with the bust. Our city was at its peak when we had about 1 million residents and 25 million visitors annually. More people do NOT equal a better city. Our glory days are ahead of us, but the haters will be unhappy wherever they go.
I agree with the posters above, I think it's a good thing. Less construction jobs, so some of those people will leave. Fewer planned casinos and slower growth in gaming, so hopefully there's a cap on that. I have no problem with either of those industries/jobs, they just make up way too high of a percentage of the total workforce.
I'd rather have a smaller population, with a higher percentage of people working on research at the Ruvo institute, or Nevada Cancer, or some other job that requires special, technical skills. I don't even mind the "green" technology ideas, as long as it can financially thrive without government investment or subsidies (other than maybe tax benefits, or land, or some other offer to attract new industries to the town, but no cash outflow).
There hasn't been any balance in this town, which is why we're dealing with such high unemployment.
I'm so sick of the snarly demonizing of "the rich." What is "the rich" anyway? Who gives anyone the right to tell anyone else what to do with his or her earned money? The fact of the matter is, whether you like it or not, it's "the rich" who spend, who create, who build, who purchase, and it is "the rich" WHO GIVE PEOPLE JOBS. Why should 'the rich' give more of what THEY earn to pencil pushing bureaucrats in Washington who haven't earned it so that THEY can take the money of 'the rich' and distribute it the way they feel it should be spent.
So, instead of demonizing 'the rich', work hard, earn it yourself, and do good with it.
I am amoung those who has left Vegas for good this year.
I am a 3rd generation Las Vegan, born and raised there, my father was even in Harry Reid's Senior Class, my grandfathers graduated in 1926 and I have 2 daughters born in Vegas as well.
It was a hard decision, but Vegas has evolved into a city I dont want anything to do with any more, just to cut throat thanks to the corporations.
My last job, I worked at Planet Hollywood for several good years, taking it from the Aladdin to Planet Hollywood, great group of people to work with, several natives, but when Harrah's moved in, they just started canning people, didnt even interview people for any other open positions within Harrah's and several upper mangement people received nice payouts for making those cuts of hundreds of people sending them to the unemployment lines.
That just soured me to the point that I was disgusted and packed up and moved 4 generations of Henderson/Vegas history with me.
You all can have the bright lights, night life, crime, drugs, and cut throat work enviroments, I am going to savor the important things in life.
What happened in Las Vegas is that a mass migration of people came here without a real job, no plans or goals and just showed up. People actually moved here with the idea that they could work at Dunkin' Doughnuts or Starbucks and make a living. I have never seen a city with more vehicles 'puttied' together with primer than here. Now the same people have to leave. No surprise.
My family members are moving after 14yrs. Finding a full time job is hard, the schools are terrible and crime is as bad as L.A., when it does rain there are no sewers like most cities and they use disapearing paint for the streets. I've never been anywhere where they are working on the detour as while they are repairing the streets! The poor kids work in the casinos when they drop out like it's the cotton fields down south. Too bad they can't just deport all of the thugs to some island.
The Dave Ramsey Show teaches people how to live ( or spend ) within your means. If more people did his program, the country would be in a better financial peace of mind.
PS: Im on Baby Step #2. :)
Well, I am moving to Las Vegas at the first of the year. My wife and I are leaving the high tax state of Maine. 8.5% income tax. Our business does not have to be in Maine and Nevada was one of a few states we considered. Las Vegas will be OK again after the country gets through this economic malaise. I just wished I was moving this year so I could vote against ol' Harry Reid. But it looks like he will lose anyway.
DarthVader said "H'mm. Don't forget our President recently suggested, to the nation, that people should avoid coming to Las Vegas to vacation. One has to believe that took a lot of dollars away from the L.V. economy."
This is another lie you are telling. The President told fat cat bankers and their companies that were being bailed out not to have parties and conventions in Las Vegas (or anywhere else for that matter) on the taxpayers dime.
we really should raise all taxes on everything to help those who
are having problems. taxing the 'rich' wouldn't even pay for the last
unemployment extension.
tax people till we take home 15 cents on the dollar.
after all we are the richest country in the world.!! The World....!!
Look this game is over - I am sick of it.
Between this lightweight chump of a president and looser
Reid you can expect more pain into the collapse.
PR Gibbons,
It was all over the media the last couple of days regarding US corporations sitting on $1 TRILLION in cash, so don't give me that "Wealth that could be used to fuel economic growth and development and restore jobs in the private sector is being used to sustain government jobs" BS (baloney sandwich). Even though you are PAID to say that every day by the Koch brothers.
As I've said before, EVERY CITY has it's problems. Complaining about the problems doesn't help. We need community leaders who are willing and able to make changes in the status quo. The reality is that the casinos are only interested in making money and they don't REALLY care about the employees or guests. Las Vegas needs other businesses to relocate here to improve the job situation. They also need to improve the school system to attract better teachers and keep graduates here.
@ vesestini: I agree with some of the things you say. However, gaming is not the only economic engine in Las Vegas. I am active duty military stationed at Nellis Air Force Base on my second assignment here. I have been in Las Vegas a total of 11 years with both of my assignments. It is terrible that there are not as many jobs here as before, but it could be worse. Nellis Air Force Base brings billions to the Las Vegas economy and supplments the tourism industry. Don't forget all the contractors and government agencies using the Nevada National Security Site also. Nellis and Creech are expanding each month with more and more operations from bases closing and the new operations standing up.
Las Vegas will survive. The casinos will survive. However we must stop the homebuilding and attract other industries here. Desalination plants will be built to supply water to the Las Vegas and the West. Its already starting.
Nothing will be fixed overnight. It took a long time for Las Vegas and America to get into this terrible recession, it will take time to get out of it. Things will be different. The way we spend money wil be different and the way the casinos operate will be different. But it will get better.
With the worst unemployment in the country this report should be no surprise to anyone. Vegas will be in dire straights for years to come. The job growth comes from gambling industry and construction...and both are sucking eggs right now, it's that simple.
Its stinks, but my little family is leaving Las Vegas soon. Its all about the jobs...have to go where the jobs are. I will miss LV...its like no other place on Earth! I look forward to hearing about LV's recovery.
vegasguy80, ever heard of "last one to leave, turn the lights off"? It's an expression, I'm not saying Vegas should get rid of slot machines or gambling!
Also, maybe the major corporations want Las Vegas to fail. Why are they building casinos all across the country?
Great news about Job losses
http://www.youtube.com/watch?v=LC211h9AY...
The trouble with the Sun is that it doesn't synthesize information from previous stories.
Why no mention of the 13% drop in active voters in Clark County? This number is more dramatic and foreboding.
The NV Secretary of State reports a 90,000+ drop of active voters in Clark County in the last 12 months.
Tom Shermspun
The Great Ruins of Las Vegas Tour (on Facebook)
Why anyone would miss this place is beyond me.
I've been here 11 years, worked for the same company and had a job before I got here.
Now I'm getting out... Still have a job with the same company.
My last act will be to vote against Dirty Harry.
Good Luck with your new Gov. Both those guys are worhless
Okay....listen up, for those idoits who think that taxing the Rich is going to Fix your problems....Fact! Only 1% of America is rich...43% of America does not pay Any tax...its the middle class that supports this government, this America. Get your facts straight. The people who pay taxes are the government...government does not make money..it Spends money...our money.Your elected politician spends tax payer money...these are the things we should chage in our government..the politicians.
Where are these people going? The article says
"With emerging signs of economic recovery across the country, a slow but steady stream of Las Vegans is moving away in search of better luck."
Can someone tell me where in the US there are signs of economic recovery? I certainly dont see it where I live. From the news I read and hear I dont see any signs of real recovery anywhere in the US. I see a lot of propaganda but not real recovery.
Bill Harrah must be turning in his grave at how the Company and Casinos he founded are being operated. He was a true humanitarian.
Patrick R. Gibbons has got it about right.
When times were good, we didn't control ourselves by limiting government expenditures to the essentials and we didn't invest in our future by diversifying our economy. It was easier that way, because we didn't have to have public discussions about difficult choices about what government should and should not be doing -- we just spent money instead.
Now we've let things slide to the point that we have a structural problem: too many people and buildings and not enough jobs -- and we still can't have a public discussion about difficult choices.
9ballguy, you hit the nail on the head.
Bill and the family were fantastic, and you could not have heard a bad thing about him or the family.
Unfortunatley, as Harrah's went after his loss, so did the city of Las Vegas.
Anyone who claims that long-term city planning doesn't work should read a book about the subject. There are a number of books about the history of urban planning (or the lack thereof) that will give more perspective. Several good books on LA, NYC, Houston, Phoenix, Seattle.
Just one instance, city parks. None in my neighborhood, how about yours?
gbigs is just another hater - so tiresome...
As for parks, I have three within walking distance. You folks don't live in Las Vegas; you live in the 'burbs.
AnonEmus;Your answer is they are all going to Washington D.C.It is doing fine.In fact it still has a few more openings for bull$h.. artists,it pays well,and u can support the FAMILY there.
Who's gonna make our tacos NOW....
strip;We are,if only we could afford the ingredients.May have to fill that tortilla with more than hope.
'Vegas failed because there was no controlled planning during the boom period. It was like giving a teenager a billion dollars; and making a drunk uncle the guardian'
Pretty much the story of Paris Hilton.
My wife and I moved here exactly 1 year ago. Our 3 houses here are all worth 50% of what we paid and are all underwater. We also have a condo here which is worth 45% of what we paid and no mortgage.
Currently, we're current with all our mortgages,but I'm trying to convince my wife to walk away from the 3 houses. The Feds and the banks have no interest in renegotiating the loans.
Both my wife and I work from home, she is a programmer with her clients in the NY/NJ area where she goes onsite every 6-8 weeks. And I have websites which are a gold mine.
We moved here with the intention of staying till the market comes back so we can sell these houses, but we see now that that isn't going to happen in our lifetimes.
Our AMEX financial advisor is now a convicted felon who will never work in the financial industry again due to some other investment which turned out to be Ponzi scams.
Its all pretty much a sad state of affairs all around.
The BANKS are at fault here!
If I'm not mistaken, didn't Las Vegas and Nevada vote for Obama? Thank Obama, Pelosi, Reid, Dodd, Frank for the pickle you are in out there in Vegas. Didn't Obama pump about 300 million into the housing market out there when Oscar Goodman refused to meet with the Kenyan? You asked for just what you have. Obama told America to not go to Vegas. What does it take for you folks to wake up and smell the coffee.
Hey MountainBreeze.
Wake up; google is your friend ("obama don't visit vegas"), and ignorance can be cured:
02/02/2010
"President Obama is catching heat from Nevada lawmakers and business leaders regarding his comments Tuesday criticizing trips to Las Vegas.
During the president's town hall meeting in Nashua, New Hampshire, he discussed the need to curb spending during tough economic times. "When times are tough, you tighten your belts," the president said. "You don't go buying a boat when you can barely pay your mortgage. You don't blow a bunch of cash on Vegas when you're trying to save for college.""
PGelsman: Let me see if I've got this right. You moved here last year, after the economy was in the toilet. Bought three houses and a condo. Then expected things to miraculously turn around so you could make a profit off of you're speculation.
So now you want to walk away.
It must be the banks. It couldn't possibly be your short sightedness.
Are you from California?
Say I own a new car dealership, would I want to advertise on a Ramsey station? He say don't buy new, but used. Usually he says to buy a "beater." If people don't borrow, they don't buy much.
Ramsey and Bush are responsible for the bad economy.
And he says: gambling is stupid, and frequently tells people not to dine out...neither of which are good for Vegas.
In my opion I feel what we are seeing are the end results of our poorly run government.
-We need to wipe it clean.. get rid of the old white haired farts - our politicians should have a specific term served for their position and then gone. We need to keep new ideas coming in. Times change but the old farts stay the same.
-Drug testing for welfare people before they collect a check.
-A flat tax across the board. I am not rich but one day when I am, I don't want to be penalized for working my ass off and have to pay more taxes then the rest of the people.
-Get rid of the electoral voting system.
-Why Dems and Republicans.. so much fighting going on in our own gov. We need a single party who is here for us citizens, not to screw us out of our money. I have traveled the world and find that most countries I have visited and spoke to the people, love us Americans, it's our corrupt gov. that they fear. I feel the same.
-I am against illegal immigration and want the border as high as it can go, but how many lets say Mexicans do you see on the corner with a sign asking for money or food? Not many but I do see a whole lot of white people of which I am. Get a job!! There is this stigma with working at a fast food or movie theatre that it's just for kids or illegals. It's a job, it's not forever.
-The gov. will go after Bernie Maydoff which I think he should be shot, but the gov. or Federal Mofia won't admit the ponzi scheme it has going with the money we contribute to Social Security. It's never ending with how we are being screwed as citizens but we deal with it because it is life here in America.
PGelsman, you have three houses, plus a condo in a city build on speculation, and your negative equity is the BANK's fault?
Stupid people shouldn't be allowed to vote. Or reproduce.
It's a shame but where I work I see plumbers, heating/cooling, delivery drivers etc etc all day long - the sad part is that more often than not they can barely speak English well enough to tell me where they're going.... some even resort to handing me their paperwork because they can't speak English at all :( Hmmmm... born and raised here, right? Sure.........
No wonder people are leaving, look at some of the crazy thing GOVO Gibbons does. Nevada is suing the USA over the health care bill. Nevada is applying for subsidies under the health care bill. Therefore Nevada is participating in something, the State says is "unconstitutional." Therefore, Nevada should be sued as well.
One last thing about all the empty housing in Vegas, Phoenix and other areas.. there needs to be a raffle system for these homes. Whatever the house was sold at during the bubble price have an auction. Ten dollars a ticket or whatever until all tax, liens etc.. are caught up and then the winner will have a house out right. People playing will have to live in the house. Once a family has a house they dont have to worry about a mortgage, they can then get those movie theatre jobs, or McDonald's jobs that typically don't pay much but it doesnt matter.. all they need is the minimum wage job to live now. That house being sold in a raffle will pay the banks off who then can in-turn pay the tax payers/gov back and get people in to homes and unemployment back down. Maybe the raffle system would be for only welfare people who once they got the house had to take up one of the jobs in the community. Welfare is down, homes are occupied, jobs are filled, taxes are paid back.. wow, how come the gov can't do this?
I wanted to take this article seriously until I read the first sentence "With emerging signs of economic recovery across the country..."? What? Are you kidding me? Where exactly are these emerging signs occurring? In your Obama-magination?
It's been written that the best stimulus packages are disasters. Think Katrina and Northridge Earthquake. Billions poured into those economies from insurance companies and the Feds. One of the biggest disasters that could happen to Vegas would be for most of the homeowners with underwater mortgages to walk away. The stimulus would come from the banks helping our economy by lowering the cost of housing. That would stop the net outflow. Lower cost housing equals Vegas being a better employment center.
hey rebelwife...go to florida or some other backwards southern state and look at all the primered cars there! there are a lot more of the nicer cars here in vegas than down there!
and to the person that thinks this place is recovering, get a clue! this place is gonna become the next dust bowl
Since a valid drivers license is required for renting a U-Haul, I can safely assume that only citizens are leaving Las Vegas. There is no mention in this article of illegals moving out.
According to another Sun article, 50,000 illegals have left the state. Just how did they get their hands on a U-Haul?
PGelsman said "My wife and I moved here exactly 1 year ago. Our 3 houses here are all worth 50% of what we paid and are all underwater. We also have a condo here which is worth 45% of what we paid and no mortgage.
Currently, we're current with all our mortgages,but I'm trying to convince my wife to walk away from the 3 houses. The Feds and the banks have no interest in renegotiating the loans.
Both my wife and I work from home, she is a programmer with her clients in the NY/NJ area where she goes onsite every 6-8 weeks. And I have websites which are a gold mine.
We moved here with the intention of staying till the market comes back so we can sell these houses, but we see now that that isn't going to happen in our lifetimes.
Our AMEX financial advisor is now a convicted felon who will never work in the financial industry again due to some other investment which turned out to be Ponzi scams.
Its all pretty much a sad state of affairs all around.
The BANKS are at fault here!"
It's not the banks fault it's yours! Life is tough, but it's even tougher when you make dumb mistakes.
you will survive. when we moved to Anchorage, Ak. from Death Valley, Ca in 1986, they were slipping on the downside of their housing bubble. Just like you. We were able to purchase a nice home in a good neighborhood for a reasonable price. People we worked with complained about how much they were losing on the value of their home....hmm sound familiar. The bubble popped and prices remained stable when it hit bottom, then the commercial mortgages popped, there were empty strip malls all over town. Things started to turn around for everyone. The next housing bubble burst is just starting. Live your lives without fear, live within your means, save your money. You will survive. P.S. we love Las Vegas and are moving there upon retirement.
A whole lot of people moved here without any good intentions, and are mainly attracted to the 'get rich quick' schemes of gaming or real estate. Now that reality has set for them, they wish nothing but ill will for Vegas, when in truth, Vegas had nothing to do with it. No one asked them to spend their hard-earned (or hardly-earned) money into a casino or invest in what has been an inflated real estate market between '05 and '08. Even in 2004, things were comparatively modest compared to the next 3.
I moved here several years ago because I enjoy the vast entertainment options that Vegas offers, but the only thing I am truly missing are major sports teams, but that is where LA comes in and complements real well on that front.
And for those who think Vegas is garbage, decrepit and corrupt, I'd like to see how long they last in South Philadelphia. Maybe they will become humble and realize that others have it worse.
With all that said, I am willing to stay in Vegas and work things out if Harry Reid is voted out of office in November, otherwise I may just as well join the exodus even though I really don't want to.
"According to another Sun article, 50,000 illegals have left the state. Just how did they get their hands on a U-Haul?" - richka321
Does it matter? They're not here.
I get a real kick out of all the folks posting here that blame the government for our problems. The government didn't create the economic mess [ unless you think , like i do , that a lack of regulation let the capitalist pigs run wild on wall street and the banking and housing sector ] we are in..... the private sector did. Capitalism is GREED. What we see here is greed run amok. Logical regulation could of prevented all this.
JDubs;Was just in Philly a few months ago,Ah,South Street,a tourist area which now has degenerated to the point where "flash mobs" are called for on cell phones to beat& maim the visitors enmasse.Front page ruined their life stories just from this one incident.They are ongoing.Needless to say we didn't visit that attraction!
...one way bus ticket out-of-town...
LOL
Gibbons promised he would keep Nevada booming by keeping taxes low. He broke his promise.
I'm with Gelman it's the banks . Geithners got to go !
Hi boftx...Just wondering. In our area there is a steady influx of illegals. They're not going anywhere. That was just propaganda.
@ Darthvader - the President said, "People shouldn't be blowing their money in Vegas when they have to pay for a college education". What's wrong with that? Oh yeah, you blew your money on gambling instead of sending your kid to college! Explains why your kid is heading up the tea baggers!
I am surprised that no one has written one of the main reasons for the down turn of people going to Vegas is simply there is now gambling all over the USA, people would rather spend the money that air fare cost going closer to home. NY was a big provider of people going to LV now there is the Casino's in CT, PA, NJ etc. You have Indian gaming all over the USA. So stop blaming the people running LV and let us face it LV is not a novelty anymore. There is the same shows and slots etc all over the USA.
Tonopah
Goldfield
Rhyolite
Las Vegas
It's time to move to Macau.
My wife and I come to Las Vegas several times a year to get away from California. Your city, like many others, has good and bad. You do have something other cities can only dream of, and that is a chaance to escape from the daily grind and enjoy yourself. For this we would like to thank you. We have always been treated well when we are there and we intend to continue coming there whenever we get the chance. I believe that after the November election things will get better for all of us. God bless you all and hang in there.
Mike Handley
Lancaster, Ca.
nyrogue said the elephant is leaving the room. Spot on!
Atlantic City, Biloxi, Native American casinos, riverboats.
It's over unless Vegas can do something besides Elvis re-runs.
Local gaming is certainly a factor, but it depends on if the quality of the local casino matches what you would find at any Stations or Coast operation. You're basic slot mill isn't going to have a large impact, nor will card rooms. But a place such as Pachanga will.
The whores ain't leaving EVER.
Buddy
airweare is yet another is a long list of haters and prognosticators trying to hit an easy target and missing by a mile. Las Vegas isn't going anywhere anytime soon. But eliminating the whiners, the quitters, the haters, the carpetbaggers ... All that would be one giant step in the right direction.
This story focuses on someone who couldn't find a steady job here IN TEN YEARS. Sorry to break it to the haters, but that is the sign of someone with deep anti-social issues. The more of them that leave town, the better.
Michael Handley:
Las Vegas offers a unique visitor experience. We're just too big now, and filled with a LOT of people who came here chasing easy money and got stomped on by Vegas. Now they all spend their time trolling websites and predicting doom. The world is rather gloomy and doomy - for THEM. But for those of us who have been here a long time, we recognize that it's just another cycle.
Vegas got too big when it jumped past 1 million people. It was incredibly prosperous until then, and it will be again.
Thank you for your visitation, and enjoy yourself when you come!
Hint: if you run into bitter people here, ask them how long they've lived here. I can guarantee you most grumblers will answer that they moved here between 1998-2006.
Hey Guys, Some of you are wrong, the economy is never going to get better. Come to Oklahoma. Our unemployment rate is only 6%. We have wonderful people here and the weather is not to bad. See Ya
I got shot at at a campground near Norman,OK.I think it was because I had California plates on my camper.Now I hope they have settled down.I have,I don't blame them now.
Sorry about that. We're not all that way.
Lots of one-way bus tickets out of here? Hmm, well now. That sure says a whole lot about those leaving town.
When u see the bus driver getting off with the passengers and giving his farewells ,that will be our last hint about what it says.
Any Vacant house swatted on for 60 days should become the property of the swatters.
Here's a thought for you tea baggers. Why don't you put out the word that Las Vegas has weapons of mass destruction. The next Republican administration will send an occupying army of 450,000 here. With them will be pallets of cash to be handed out to buy friendship. Of course it will be money borrowed from China and paid back with hated tax money, but it will be OK because it was done by a conservative administration.
Swatter Reminder:Be sure to pay your HOA and all those pesky things like taxes & utilities.
mred;I forgot,you pay your bar tab too!
Forget all the politics!
The Slot Machines are way too tight...
Loosen them babies up and advertise it...
Or else we can all go to the local Indian Casino to get the same beating~!
I guess the rich, like Paris Hilton, create jobs for drug dealers and keep Metro busy. The rest create jobs in India.
Some of the Republicans here are not bright.
1% of America has the wealth, but according to some figures I've read, it's like 90% of the nation's wealth they hold! So yes, they do need to be taxed, because they are getting away with murder.
Learn to do math!
Think about how difficult it is to secure casino employment:
Hundreds of applicants for each opening, all the required cards, background check, credit check, 10 years of employment history, 10 years of prior residences, references outside of employment and many places demand a photo with your application. These are just for bartender, bell services, or valet parking.
Then a bunch of these casinos do these group interviews in mass where they can screen people out without actually talking to them. They make you work on a bunch stupid puzzles with other people while supposedly "assessing" how well you work with others.
Then if you don't fit the "look" of that a casino wants, despite your experience, you have no chance. This pretty much means if you are over 35, you are f-ed. Casinos want good looking males and females, especially females for many front of house positions.
15%+ unemployment + a brutal job market = an exodus. People with good qualifications and backgrounds can only take so much rejection and getting nowhere in this city.
Hopefully things will improve at some point. But I can see why people are calling it quits and heading somewhere else...
Check out my LV blog:
http://jimmyhoofa-lv.blogspot.com/
I bought a vacation home in Vegas at a fantastic price (forclosure price). I spent over $5,000 in Vegas on home improvements. I would assume most others will spend the same or more. When I visit, I love the pools, biking, mountains, lake mead, sun, palm trees, hiking, restaurants, and a great night life. Vegas is the same as it has always been. The population growth may be stagnant for a while, but I know it will pick-up in a few years. The Southwest weather will always attract people. We are just in a lul where people are not moving because they are stuck in every U.S. city. Stuck not being able to sell...in order to move. I live in a suburb of Detroit and you should know that the City of Detroit declined from 1970's at 1.7 million to 2010 to around 800,000. A slight blip in Vegas's population growth is minor news. Unfortunately, Vegas got caught up in investors driving home prices through the roof....a blue collar city can only command a home price relative to income....so prices should level off near the U.S. average and won't ever go near the prices in California or New York. Florida is similar to Vegas with prices as they have many low paying service jobs. Enjoy Vegas and don't complain.
"Lots of one-way bus tickets out of here? Hmm, well now. That sure says a whole lot about those leaving town."
So very true. Get on your Greyhounds, freaks, geeks and carpetbaggers!
The fact that Las Vegas owes much of it's current malaise to a President who scolded business for having conventions is lost in this article, as is the utter lack of intelligence shown by progressive moonbats who use vulgarity to label their political opponents. Business is risk averse, and Las Vegas is a risk and liability for business when children have tax authority, and idiots occupy the nation's capital.
It's ok RPJ,
I'm not a hater but a truth stater.
They're going away because they can't find work in a town where one industry has dominated for decades. Now that its one sole claim to gaming has been supplanted by proliferation all over, our market stumbles and falls.
Call me a hater for tellin the truth.
Sit around blowing your only resource and bangin on the bloggity blog. Sheesh
Tell me again why should I care.
I can understand why folks leave Vegas given the out-of-control police force that recently gunned-down my good friend's son, Erik Scott while Erik was shopping at COSTCO. Erik, a West Point graduate and former Army Officer, was shot and killed while legally carrying a holstered, licensed firearm. As I understand the facts, the police officer firing the shot (followed by a volley of shots fired by an accompying team of "Vegas' finest"), had on a previous occassion, "legally killed" another citizen. Need to clean up this "nest" of rogue cops if the city hopes to have a respectable future and loyal citizens. Now retired, I lived in Vegas sometime ago while stationed at Nellis Air Force Base...it was a great town THEN!!! Major General-USAF retired
If Las Vegas chases the law-abiding responsible folks from the city, what will be left?
samjung23 - 1% of America has the wealth, but according to some figures I've read, it's like 90% of the nation's wealth they hold!
You hit the nail on the head dude. Where are the jobs these wealthy people are producing? They have 90% of the wealth and the GOP says that is not enough and want to give them more with tax breaks. How much of the wealth do they need? 99.9% while we get the Trickle Down .1%
If we look at the big picture, this exodus is very good news for Las Vegas. Most of the people leaving are unemployed and depending on the government and most of the ones coming are people with money, people with jobs, or rich retirees that are self supporting. I say, good luck to those leaving and welcome to the new Las Vegans.
In the 60's they said Vegas is dying.
In the 70's, they said Vegas is dying.
In the 80's, they said Vegas is dying.
Many of you are still saying Vegas is Dying.
Come back and read these archives in 20 years and see how silly you look with your uninformed postings.
Vegas will come back again as it always has. Bigger and Better each time.
I have been here, I have see this all before. Just now it is easier for you naysayers to say it because you have the Internet. Used to be talk in the coffee shops.
20% Unemployed? 80% of us are doing just fine that did not bury ourself in debt.
The same problems here in Reno and Sparks. If you live in Las Vegas, don't come to Reno or Sparks. We have the same problems, no jobs and gambling was given away by corporations so they could grow their empire. They could care less about Nevada. Its all over for Nevada when they gave the gambling to the indians, (Native Americans) so the gambling corporations could grow. So save the trip driving North in your U Haul and Go East young man, and manybe you'll find a job after this Bush Depression.
Good!!! I enjoyed Vegas when I first moved here 14 years ago. We grew too fast and weren't prepared for the growth. Vegaslee, let's have some coffee in six months, but not at Starbucks. I'm sure some little Mom and Pop shop will be open and we can hang for awhile.
It's not just Las Vegas. Plenty of cities are laying off cops and/or firemen instead of paper pushers and other non-essential people. Same old story, the politicians live high on the hog in good times by spending every cent they steal from citizens and when the economy hits a bump they wring their hands and wonder what happened.
Would the last one out of Vegas please turn the lights off!
We've had a few people practically screaming don't tax the rich they are the ones who create jobs. Yes they do. For maids and gardeners. Enough of the tea party propaganda. Many people got rich because their EMPLOYEES made them rich. Unless one is a highly successfull day trader or speculator you don't get rich on your own unless you were born that way. It's a team effort that creates a bigger team which is where those new jobs come from. Only those with a warped view would think Kirk Kerkorian and Steve Winn made those billions all on their own.
With so many people unemployed it is good to hear that the top 25 hedge fund managers on Wall Street averaged $1 BILLION apiece in their pay envelope last year. Unlike the Las Vegas casinos, hedge funds and most of Wall Street make their money skimming the cream off the economy with a few key strokes on the computer. The only positive benefit is to their organizations and their investors. So while we step on the necks of the jobless, call them names, call them spoiled and leeches for collecting unemployment, and kick them while they are down let's not forget that before they lost their jobs they benefited society. All those big paydays for the hedgies and the Wall Streeters came at our expense as they devasted our retirement accounts, our home values, our job prospects, and took a piece of the action on everything from corn flakes to gasoline and gave nothing in return. Most of those big bonuses at the banks are coming from the banks borrowing from the government at half a percent and then lending it back to the government for 3% on up.
If the rate at which people are leaving Las Vegas can be increased over those going there-exponentially- we might be able to apply Newton's 3rd law of thermodynamics as in if the rate of souls leaving hell can be increased over those entering it.there will be a decline in temperature until eventually hell freezes over.This is not to liken las vegas to 'hell' though some might think so.I went there once-I bought some cookies from a girl scout-saw a man buy coffee for a homeless man in McDonald's -put 20c in a poker machine and didn't win anything-went to a show-Best little whorehouse in Texas'(Aw Shucks!)-Stayed in the Sands one night and Circus Circus another.I resisted the temptation to drive 1000 mile round trip to Salt Lake City.I bought some film in 'The Biggest Gift Shop in the World'.That was 30 years ago.
You all must google the "Cloward Piven Plan." This is a plan written by two sociologists in the 70's to destroy our country, collapse the system, and bring about "change" and usher in socialism as cities were brought to the brink of disaster through overspending on social programs. It has worked like a charm because We the People were asleep. We are now no longer asleep, and are taking the country back. Please pray hourly for these socialist politicians to be kicked out and that we still have time left to fix our beautiful country.
tax cuts for the rich didn't help at all for this economy none what so ever.
For formervegas76: as usual when their high-minded ideas fail, the Marxist-Left resorts to name calling and bigotry. The term "tea ^%%^^%", which is pertains to certain sexual acts, is not appropriate in any polite conversation. Try using a little mental power: the more government tries to regulate and shape the behavior of markets and people, less productivity you get out of it. I bet you never think of money until you have none.
RE:BY MIDNIGHT
I agree. I love Vegas and would love to live there. But living in Vegas has become miserable for all the people out of work and struggling financially. It doesn't matter if you live in paradise or wherever...you need a good job to sustain some quality of life! Low paying service industry jobs, with no future is not going to cut it.
Looks like all those years of voting for Harry Reid has come home to roost. When are you going to wise up and dump that loser?
I bought a home in Las Vegas back in 2006. I decided to let it go into foreclosure since the value dropped by more than half of what I paid for it. Though I can afford the home and payments it makes no sense to put hard earned money into a rapidly depreciating asset. I can accept the foreclosure and turn around and buy a much larger home for what I paid for this property. There are so many foreclosure and short sale properties in Vegas now that a $250,000 dollar home in 06' is now worth less than 100k. There are entire neighborhoods in the city that might have 30 homes in the project and only one or two residents. There are many sweet deals now and many more to come. I love Vegas and not just because of the gambling. There is so much there especially if you like the desert. I'd wait another two years and then see what I can pick up. It will not improve before then because B.O. is doing a Jimmy Carter to the economic health of this nation. He'll be gone in two years so I'm going to wait and then buy a lot more house.
What all that money the Clark County School District got won't keep the valley populated. 500 more teacher and about 400 administrators will be back to work within a month. Funny with all the families leaving the valley they won't have many kids to teach! Go Harry and the Annointed One!
PGelsman- Three houses and a condo?? Oh boo-hoo!!! Your the reason the housing market is why it is. People trying to make a quick buck, the banks gave loans to anyone with a heart beat. I hope you lose them all, and have to work at Wal-Mart, to see how many other Americans are suffering
I want to give the people of Las Vegas a heads up here. I live in Oklahoma. I have a lot of friends in the oil and gas business, the business that obama, reid and pelosi have waged war against. These are high level friends, managers, vice presidents, etc. of companies like Halliburton, Schlumberger, Devon, Chesapeake and from Texas, Oklahoma, Lousiana, Colorado, Utah, etc. and they are telling you Las Vegans and everyone around where I live that if you re-elect harry reid they are not coming back to Vegas to spend the thousands they spend on every trip, and they come almost monthly. They may come occasionally if you do because they meet there some but not nearly as often as they have for years past. You people in the entertainment business, doorman, chaufers, servers, bartenders, etc. will understand this, these people are the ones that you guys ask when you see them "hey you got a brick with you tonight". So in short throw reid out and help us get back to a pro business government and lets restore Las Vegas to its previous glory.
QUOTE
By patcoghm
"manybe you'll find a job after this Bush Depression."
-----------------------------------------------------------
Here are a few facts for you people that buy into obama,reid,pelosi trying to blame President Bush for all the democrats shortcomings and failed policies. Please take time to read these very real facts and try to understand if possible.
Democrats have been in control of both houses of Congress for almost four years. The last time Republicans were in control, the unemployment rate was 4.6 percent, the federal deficit was $248 billion and the economy grew at 6 percent. Since the Democrats took control, in less than four years the deficit has increased almost fivefold to $1.4 trillion and the size of government has grown by 40 percent, as based on spending as a percent of GDP. In addition, the total accumulated federal debt for 230 years history of our country was at $8.4 trillion. Again, in less than four years the Democrats have added another $5 trillion to bring the debt to over $13 trillion. The track record is clear: Going forward with the Democrats in control will bring more government growth, huge tax increases and more federal debt. Furthermore, to hear the Democrats talk about creating jobs is ludicrous. The $862 billion stimulus was full of wasteful social spending and insider payoffs. It didn't stimulate. It didn't create jobs. Also, the anti-business rhetoric from Obama and the Democrats started with the health care discussion. Instead of promoting job creation, their priority was to pass the largest entitlement program ever and during a recession.
I want to give the people of Las Vegas a heads up here.
I live in Iowa, Shanghai, Amsterdam, Black Rock Desert, Hood River, Oregon and Santa Barbara, CA.
And I know rock stars, engineers, farmers, dogs and lamas.
Don't be stupid. Don't elect somebody who keeps changing her story, her make-up and her 'remedy' targets in DC.
What we DON'T need is some loose cannon, calling for massages for felons because L Ron thought it felt good, for eliminating DOE, DofEd, EPA, Social Security, Medicare and reason.
Listen to Okies ifn that's what you want, some Angler aiming to REMEDY her way around.
Life is what you make of it.
I happen to love living in Las Vegas. If I ever stop loving it I'll move.
My question to those that live here and hate it is why are you still here?
I've never understood living somewhere you don't want to be. Plan, save up, pack up, and go after your dreams. For many that dream is living here in Las Vegas and they will fill the gap you left with excitement and amazement rather than misery and hostility.
lol @ moving from Las Vegas to Reno. please do a follow up to that story.
i just moved here 3 months ago from SoCal. family, business, everything. the weather wasn't enought to keep me by the beach. that and getting taxed to the point where my business was giving almost 40 percent of earnings to who knows what.
for those of you who haven't lived in SoCal, you should be thankful. if you think it is bad here in Vegas, you would fail miserably there. the cost of living is 15-30 percent higher. while you may easily receive welfare (if that's your thing), you will still inevitably complain about the horrible public schools, overcrowded ER's and hospital waiting rooms, high crime rates, illegal aliens, section 8er's, gangbangers, sex offenders and parolees which the state embraces so much.
OC and LA average rents are $1000/month for a 1 bedroom , 1 bathroom with less than 700 sq ft. i know a $1000/month out here gets you a 4 bed/2.5 bath with about 1700 sq. ft. we even have a community center with a pool, fitness center and park. hoa dues are only $65/month. try paying around $200/month in cali.
i enjoy reading the vegas bashing comments because that's how i feel about california. i did what most readers will tell the bashers to do: move.
i love vegas and the state of nevada!
Airweare's analysis is weak. People who can't find a steady job in ten years are losers and anti-socials, plain and simple. It's Las Vegas's fault because bottom-feeding dreamers flooded the town looking for easy money? Read up on some history; Vegas has always been a place where hard-work by normal, hard-working freedom seekers has paid off. We are over-populated by at least 300,000 people, and many of those people are the same ones who spend hours filling out sweepstakes forms and playing the lottery in whatever state they ran from. Good riddance.
PGelsman, don't look for any sympathy here for your bad decisions.
The family in the photo are moving from Henderson to Sparks?? Is that supposed to be an improvement?
Let's just hope they're beginning to leave in numbers, too many people are here, all these new whiners and complainers have ruined our city. It was better in the old days, before the population boom.
Go back to where you all came from, you don't need to live here
John V. Karavitis This is truly unfortunate, this jobs DEPRESSION has hit everyone very hard. The good thing is that one can pick up and go - not easily, of course, especially if you have a home and a mortgage. But if you're not finding work at home, it's time to move on. Now, I've noticed in other comments to this article that there is a lot of apparent hostility against Las Vegas, that it isn't doing enough to support its local business, that drug use is increasing, etc. Well, a booming economy will solve those social ills, no? And how can we get our economy to boom again? Get rid of the Democrats. This economic malaise will not end until people get rid of the Democrats, until people understand that the Democratic power is all about getting as many votes as it can, and damn the country. Pray that the Republicans take control of the House this fall. And pray that we won't have to wait for Obama's one term to end before the economy picks up! John V. Karavitis, John Karavitis, Karavitis
I have lived here in vegas my entire life. I have recently had to come to an agreement with my husband that if he loses his jobs we will have to move to WI. I have always embraced change, but this is one that really blows, espcially since my husbands jobs are both in the hospitality industry...it seems inevitable. I just thank God we decided to hold off on buying a home for all the reasons mentioned above, the water issue also being one of the major reasons. I mean, with the drought, if we actually ran out of water, NOBODY will get any money out of their homes, nmot even the very few who have managed to make a couple bucks. Yup, this was where cost of living was very low at one time and wages were high,and thats when my father (a month after I was born) came here. Most of our family has settled out here because things have been promising for so long. My home just may become a ghost town, really! It's so depressing.
Las Vegas will never run out of water. It might be more expensive but the technology is out there right now. The main problem is the Las Vegas Water Authority has their heads up their rear-ends. Really stupid to build a multi-billion dollar pipeline to NE Nevada.
Comment removed by moderator. Comment was in all caps.
Marxists, Mobsters, Muslims, Mormons, Mexicans and Meth Heads! Las Vegas is a futuristic microcosm of what your?my?our? country will look like in about 10 years. How's that "Hopey Changey" thing working for you Las Vegas?
It's not your locals that fill your hotels and spend their vacation dollars there but it is the visitors who spend their cash with all the fun that they can muster. If you're leaving the state because of the lack of work look to the politicians who siphon off the riches you claim the greedy rich have. Have you ever worked for a poor man and got paid? I seriously doubt it. Blessed be the rich for they shall employ you and bring money to your home.
To everybody reading these posts, the only post that makes sense of the situation here in Vegas is the one by GBIGS. The DEMOCRATS created these subprime mortgages to help the poor people get into a home. I was leaving work the other night and on the way out I overheard another employee who is a bus boy in one of the restaurants telling a co-worker how he lost his house that he had bought for $375,000. Are you kidding me? A busboy buying a $375K home. This is why we are in this god awfull mess. The ole STATED INCOME/NO QUALIFYING LOANS that the Democrats under the Bill Clinton administration hatched up toward the end of his presidency to make him and the Dems look like gemiuses all the while knowing they were destined to fail!!!
Las Vegas was the perfect storm for these Stated income/no qual loans because of all the tipped jobs in this city and all the un-verified/non-taxed income from Bartenders, Cocktail waitresses, BUSBOYS, hookers, pimps and drug dealers.
While these losers were busy ruining our economy we voted in another loser OBAMA who only got votes because he signed up poor people through that sham ACORN and used busses to get them to the polls!! So let me get this straight, tax the wealthy more so the poor people can stimulate the economy?? Are you crazy!! Look what they did when we helped them buy homes they couldn't afford. Where are these LIAR loans now?
I am 57, white woman who is unemployed and own a condo and so far I am ok. In debt but ok. Move? to where? I have no where to go that is better than here. I came to Vegas in Dec of 1984 HOMELESS! I picked myself up and made it out. I have had alot come and go. All I need is a steady job again and make it out. Harry Reid did not cause this mess. The banks did. I was caught too but when I refinanced, I got a fixed rate. That saved me. I took a job recently and had to quit, no unemployment for me. But, I don't blame Reid. And I don't blame our President. We are not going to recover as fast because this state is built on physical uneducated jobs. Hospitality, contruction, mines. Most of the high end jobs are out of state because we don't have the education to fit what tech jobs need. We will restructure and hopefully some manufacturing jobs will come here. In the meantime, if you want to stay, stop being fearful and angry. It will not help you. SOLUTIONS are needed now. And I pray one comes for me. Voteing Harry Reid out isn't the answer. Angle will make things worse.
Listen to bigsie? Might as well call one of the Koch brothers and ask what's on his mind.
Vegas was never any better than a mirage in the desert. Now that people realize that fact, they're taking the advice of The Great Communicator and "voting with their feet." It'll make a great ghostown, if you like toothless whores and crazy teabaggers.
Do the union members that blindly support ObamPelosiReid and the other democrats realize what they are seeing is a man made disaster if not completely caused by then greatly exacerbated by these economic buffoons? If they were allowed to continue they would have the whole country looking like Detroit. Remember when things really started to go sour? Wasn't it around 2008, two years after this band of fools really took control.
Would anyone with any business sense chose any of these people including Obama, Barny Frank, Christopher Dodd et al to run a major business in LV or anyplace?
I'll take the drugs and prostitutes of LV anytime over Obama and his brand of crime.
The views are stunning. The hiking is great. Kayaking the Colorado is wonderful. The weather is much better than Detroit. The condo was incredibly cheap. Property taxes are laughablely low. So much to explore. Lots of volunteer opportunities to help people cope with this great recession. Great place to retire.
denver21: Learn your history. The democrats did not do the subprimes. The banks did. They made up bad mortgages. sold them to everybody!!!. then placed them in AAA goods and sold them to Europe and Asia.
I've enjoyed reading the lively conversation here. Personally I just moved my company from So Cal to Vegas in July. The majority of my staff moved as well. Vegas still has all it needs in terms of low taxes, plentiful and low cost housing.
All you need is a great PR campaign that focuses like a laser on the Southern California companies. I commute weekly and have hired several people in the area.
Oh yeah, and the other thing, my jobs are above minimum wage, but I've had a heck of a time finding someone here in Vegas to do more or less unskilled labor for 9.00 an hour. They are apparently suffering from the same Extended Unemployment Benefits Malaise that has infected So Cal.
I'm thrilled with my commercial space, my apartment, my employees like the area, but seriously, I'm surprised that its taken me so long to fill a half dozen jobs.
I hope that you all get rid of Crazy Harry and get someone in office who knows how to go and get the businesses which so badly want to move from So Cal.
as for your comment that gbigs knows it all: I disagree. gbigs only gives half the story to suit the wingnuts theorys. Misinformation is big with the wingnuts and saying the demorcats did this problem when it was the banks being unethical is proof. There has to be regulation because the rich cannot be trusted to do the right thing because of greed. The crash of 1929 and the use of the subprimes prove this. Know your history.
Las Vegas is a hospitality city, it's always going to reflect the current state of the economy, only more so. Want to prevent everyone leaving? Help support the Tea Party movement and get the nation back on more of a fiscally conservative track. And yes, as someone else pointed out, extended unemployment benefits just motivate unskilled labor to not work, meaning it can be difficult to fill those sorts of jobs.
I see a lot of well meaning commentary but no analysis of the city's situation. Moreover, it's as if people are still stuck on the question of who shot JFK.
Simply put, Las Vegas, historically, really gathered steam when that fabled mecca of sin Havana, Cuba, fell to Fidel's Communists in 1959. Lately, there's been overtures from the Obama administration and detente between the American monied class (that were sent packing with Batista) who have begun to court favor with Presidente Raul Castro. Specifically, everyone wants back into the gambling casinos and whore houses of Havana but more poinantly...Fidel's brother (needing the American money) will welcome it the moment Fidel drops dead which could be any day now.
Vegas is doomed. Not because of water, depressed real estate or that it's failed to be an exciting place to be. To be certain, it's about corporations and large pools of capital that move freely around the world's geo-political landscape. Who knows? After Cuba, it might be Tehran or North Korea. And don't feel bad. Cancun, Mexico, was hastily set up by Americans for Americans, as America's new winter play-ground in the 1960's after the Bay-of-Pigs fiasco. That's about to change. They're about to lose major vacation traffic from there to Varedero, Cuba, which was totally owned at one time by Lady Du Pont and which is still openly claimed by her surviving family.
Sorry but I think Vegas in the near future is about to become a whole lot smaller. However, for way different reasons than the scarcity of jobs & the price of local property.
"Vegas is the same as it has always been."
This is said by a vacation home owner. Vegas is NOTHING like it used to be. Like the above poster, I am 3rd generation, my children 4th, born and raised. In the 70s and 80s I had the best time growing up. Smaller population, tight-knit communities with police/fire departments that people idolized....I remember fire station open-houses with spaghetti dinners, GREAT schools, comfortably hot days, a dusty-western town, a majority native population and mob-run casinos that cared about the people. I remember a town that supported the Rebels with absolute loyalty.
Now...the concrete jungle, urban sprawl, and congested traffic make for horribly hot-maddening commutes, the corporate run casinos don't want to pay their fair share,the schools are a joke, the community spirit and connection between the police/fire and the people is gone. The natives our now outnumbered by people from California, illegals, and retirees that already raised their families and do not want to pay for schools, parks or rec centers that don't beniefit them. There should have been a growth moratorium to preserve water and land, which in turn would have preserved property values. When the families are outnumbered by partiers, gamblers, people looking to "escape" where ever they came from......this change to be expected.
We are getting out while our children still have a chance. Unfortunatley it's not all of the "broken dream" people leaving, but well-educated families that don't want to watch their lives go down the drain.
See ya, blowingtown. Abandon your city when it needs you the most. Nobody ever said you weren't a quitter...
RPJ: Time to "vote with your feet," simple as that.
Say something that makes sense and I'll respond,
"RPJ: Time to "vote with your feet," simple as that."
That's what the "Great Communicator" told the people of the Rust Belt in the '80's. Makes just as much sense today. If things aren't working out for you in the place where you live, then "vote with your feet." That seems to be what many Vegans are doing and will continue to do.
Well, that's odd. I started investing in Las Vegas one year ago and, thanks to the low prices, I managed to buy six properties. Okay, these are not mansions, but after remodeling, I could rent them very easily at an affordable price and I currently have 15 happy tenants and about $10,000 monthly income.
I am now investing in commercial real estate and it is booming, too.
In a couple of months, I will come and settle down in Las Vegas with my wife and kid, because this is still a place when you can make your dreams come true.
I am from Europe and, trust me, when I read people complaining that the taxes are too high in Nevada, I am laughing. Over here, in the heart of Europe, I end up paying 55% income tax on my salary. VAT is at 21% and the gas is today exactly double the price as it is in Las Vegas.
Not to mention that food is twice more expensive, cars three times, and houses four times than they are in Las Vegas.
I have two graduate degrees and an executive position, but I strive to save money with such high costs. Hopefully, some friends and private lenders, believing in me, helped me realize what I have achieved in Las Vegas.
This is a place where one still can fulfill his dreams if he has the courage to work hard for it.
Obviously, there is no safety net if you fail. But, believe me, having a strong social safety net means that the hard workers have to pay A LOT for those enjoying that net. And I have worked hard enough for 30 years for other people to use that net.
All I can say is: VIVA LAS VEGAS.
Yo Viva,
Donde es agua?
Do you have a pipeline?
Donde es teachers?
Vegas graduates 40%, and half of them need remediation to pass their Freshman year in college?
Donde es culture?
If money is what you want, then maybe Vegas is for you. Lots a folks cuttin out and not comin back.
Dja ever invest a pile a dough in a property only to have some #ssh&%le move in and goof it up horrendously? Good luck w/ the Vegas crowd.
So the idiot in this article spent 10 unsucessful years looking for a steady job but two years ago decided to add to his economic burden by having a child. Thank God this genius is leaving.
Good deal. Load up your junk vehicle, hitch up your junk travel trailer, and get gone. If possible, take someone with you. Maybe, just maybe, the traffic will return to normal around this town and I can actually get somewhere..
About SUCCESS in Las Vegas - I just responded to someone on the Sun's Mortgage story, who says Las Vegas will die. I reject that thinking. Here's why. I've been visiting, or living (for 15 years), in Las Vegas for about 40 years. In that time I have learned what kind of draw Las Vegas has - and why.
Yes, Las Vegas has its problems; lower tourist volumes (18 million vs. 33 million 2-3 years ago), and less money being spent. But the BUSINESS MODEL is STILL sound, and the tourist attractions STILL exist. The excitement it has always offered is the reason for its huge draw. To make people return, the hotels will have to REDUCE their "cost of expenditures," and INCREASE the "value of everything they offer" to visitors. This will create interest again.
But Las Vegas visitor volumes will only increase - substantially - when the economy gets in full-swing again; foreclosures cease, and employment is up - possibly in 2-3 years. Again, that does NOT mean that Las Vegas is finished. What made Las Vegas GREAT, is still here. The city is just downp; like every other city.
The casinos did not go "out of vogue," price themselves out of business, or make bad business decisions that caused their loss of income. And people are STILL coming - just in fewer numbers for now. But remember, while still cautious with money, over 80% of adult Americans are still working.
There is nothing like Las Vegas on the planet. It is billed as the "Entertainment Capital of the World," and for good reason; it always will be for the foreseeable future. People come here for the gambling, shows, entertainment, restaurants, conventions, and sunshine - all to enjoy the action and glamour that Las Vegas radiates. The lights, hotel designs, entertainment venues, food offerings, etc., dazzel people. The city generates so much actual brilliance that when viewed from a satellite - Las Vegas shows up as the brightest spot in the US.
And Las Vegas is constantly upgrading everything; re-doing hotel and casino interiors, opening new restaurants, new shows, and new offerings - so as to remain the best there is. Las Vegas has 19 of the world's largest and most fabulous hotels. There is no place else, where you can do so much, and see so much - for FREE; all on 4 miles of the Las Vegas Strip, and downtown.
There is even FREE COVERED parking at EVERY CASINO and Shopping Mall. And you can see mind-blowing construction marvels and pool designs, go anyplace you like, and do many things - 24 hours a day - and all FREE.
You can even watch people gamble, for free. Obviously, the casinos would like you to participate - so they offer FREE lessons about gaming.
To build such an empire of entertainment over, today - would be financially impossible. Thus, I believe Las Vegas will remain very marketable, and has a bright future. In the days to come, Las Vegas will still excite people and draw them like a magnet - just as it has always done for over 60 years.
@ blowingtown - and @vegaslee
You both mention a number of things that I did not address in my post (above). I believe you both are correct in what you say. I too remember how things used to be - in earlier years, and how well Las Vegas was run. It worked, and that is why it will work again.
Around 1989, when the Mirage was built, the corporations began to make further inroads in casino ownership - and changes to the business model that the Mob had fostered, for years before.
Things that visitors loved, like eliminating live musicians from shows, who were virtually run out of business (for cheaper recorded music). And the costs for rooms, etc. began to rise. The eventual owner (S.A.) of The Venetian once said in the mid '90s, we have to get rid of the cheap buffets.
Well, I am in favor of inexpensive, or expensive (if you want it) dining, but to go as far as we have in causing the rise in the cost of a vacation, per visitor, is as though we were trying to kill the Golden Goose. I guess, with the economy as it is, we can say that the corporations, inadvertantly, almost succeeded.
Corporations see Las Vegas as a cash cow. Customer Service is something they don't know how to spell anymore - BUT THEY WILL LEARN, Their stock holders will see to that. It's called "earning profits through business volume."
No customers, no profits.
In the process of buying and building new hotels and casions, THE CORPORATIONS TOOK (and are taking) what they wanted; they just use different techniques than the previous owners (the Mob) did. This time, it is seen as "legal"). So we wound up with what we have today.
My prior post was written as my strong belief in Las Vegas as a tourist destination attraction - and its power to draw people to it. Hotels and casinos will have to revise what they HAVE BEEN DOING - to something less expensive and more palatable to visitors - if they are to survive. And maintaining/achieving a level of excellence will have to be assured. Visitors notice this.
So revisions to the ECONOMIC part of individual hotels and casinos business model, could be their salvation - but only if they are not greedy (as they have been).
Thank you for your comments. You got it right.
I agree 101% with 'bite' above, whores know BEST when its time to move out, And I will stay PUT until they decide to leave town!!
Let's not forget that Las Vegas as a city SURVIVED -and grew 10 fold during -the BIG Depression of the 1930's!! It's survival it's enbedded deep in the human spirit QUEST for 2 things... SEX and FUN -gamble-of course; after water and food!!
viva lv,
i have 2 places under my belt in 3 months. they are already rented out and i have 2 in the pipeline.
i love the people of nevada who were too stupid to know they couldn't afford their home... thsnk you for wishful thinking instead of being practical. i am going to make almost $2 million dollars this year in nevada because of stupid people.
that true don't like las vegas move on. especially teabaggers and wingnuts
Las Vegas once was the fastest growing city in the world. So it is no surprise now that it is the most hardest hit.
Depressions are caused by economic bubble bursts.
As a consequence regulations, both internal and external tighten up credit, as time goes forward memories fade, regulations are loosened, leading to the players (Banks, consumers, business, speculators)all competing to outdo the competition which leads to an overheating and shady behaviors which contribute to the growing of the bubble, which then repeats, according to an economist named Minsky. I think he got it right.
Perhaps people "voting with their feet" are the ones we don't want here. That was my point. The vast majority of people leaving are u-Haulers and Greyhounders, and I feel sorry for whatever city they land in.
As far as some comments above asking (in Spanish, obviously trying to make some questionable point) where the culture is, East Coast ivory tower notions of "culture" is something Vegas has never needed. Look at what "culture" did to Scottsdale, Boulder, and is threatening to do to Flagstaff.
That said, I can't wait for the Smith Center for the Performing Arts to open next year in downtown's Symphony Park. Performing arts has always been our local culture, so it makes perfect sense.
What I do not understand is how you people (and YOU know who YOU are) can blame President O'bama for a mess it took George W Bush 8 yrs to create?
YOUR ex-President mucked this up for all of us in an 8 yr span, yet YOU expect President O'Bama to fix it in 2! I say two because he hasn't even completed his full term yet! And he probably will not be able to fix this mess in four years as it is FUBAR for at least the next decade!
Thanks George!
and the mayor thinks it would be cool to have a sports team here.
grow up, oscar.
you have WAY bigger fish to fry right now.
i love you obama backers. how many years WILL he be in office before you start holding HIM accountable?
if the mess from the last guy is so bad, and obama can't fix anything...then why did you vote for him in the first place.
oh, ya, that's right. because the guy from black eyed peas told you to.
haha. "greedy realtors"...haha, that's a good one. ya, blame the REALTOR and not the home BUYER that bought way more house than they can afford, huh?
So does this mean no one likes an endless parade of boozing male neanderthals on obnoxiously loud motorcycles & pickup trucks and 27 RVS on every street corner? Vegass puts the ass in classless.
@ stevem: "and the mayor thinks it would be cool to have a sports team here."
That's what I was pointing out above with the lack of "Rebel loyalty". Cities that support teams do so even when they are down for ten years and are "due for a win". Vegas likes you when you are on top, but not when you are falling down. Supporting a team takes money and commitment from the community. Too much turn over here.
@ RPJ: "See ya, blowingtown. Abandon your city when it needs you the most. Nobody ever said you weren't a quitter..."
I am not married to Las Vegas, nor did I sign some sort of contract to live here, nor am I quitting on someone I made a promise too. People move on for jobs and make decisions for their families all of the time whether it be for schools, health, careers etc... I always find that the people the MOST DEFENSIVE of Vegas, those unable to find a single flaw with the "perfect city" are those that are transplants, now stuck, unable to move, pissed at their lot in life and trying to justify their existence in this city. I've had MANY an intelligent conversation over the last few years with people that really like Vegas, and choose to stick it out, and we can see each other's point of views, like adults. You clearly are not one......
I think the problem is that Las Vegas grew way too fast. I tend to agree with the comment that this town has not seen the end of it's glory days. Las Vegas isn't a traditional city and people were trying to make it as such, it's a unique city and not for everyone "including me", but I can see the attraction for people who enjoy what Las Vegas has to offer. I truly think Las Vegas problem started when they tried to make this place family friendly, my God what do you think was started here people, certainly not things that were family friendly. Las Vegas will recover eventually.
Bottom line: If you like it here, stick around. If you don't like it here, go see what else the world has in store for you. That's what free will is all about!
Tax the Rich so they have even less money to come to Vegas and spend! BRILLIANT idea!
Keep raising all of the Local Government Fees to do business in Las Vegas. BRILLIANT IDEA!
Raise the Sales Tax even higher so People have less money to spend. BRILLIANT IDEA!
Spend another $800 Billion across the country on everything but nothing that creates jobs and adds to personal income. BRILLIANT IDEA!
Catch the Drift? Good Job Obama/Pelosi and Nevada Senator Harry Reid... good job.
(Should have bought a U-Haul store in Vegas... More People will be moving.... Many, Many more with all of this financially inept Leadership.)
What a bunch of idiot posters. "Buying too much house" doesn't apply to those who put 20% down in 2003 yet today market value is 33% below those prices, which was prior to the real boom. All of us should have anticipated THAT, right?! This fault for this social debacle lies squarely at the feet of the GOP policy of laissez-faire nonregulation of Wall Street, where the demand for mortgage paper from southern Nevada originated and who fraudulently sold pools of those mortgages in the form of CDOs to large investors both the US and around the world. Home values in Vegas probably won't recover for another 10 YEARS. It may as well have been a neutron bomb that was dropped on Vegas. And it was the GOP that dropped it. Get smart.
Stop these ridiculous wars world wide, as we see, even the Iraq thing turned out to be a disaster in the end. Stop wasting trillions of dollars and spend that money wisely instead. No reason to show the world that you're the greatest nation on the planet. No reason to play war at all corners of the 5 continents. It's pointless, expensive, and has no future.
However, who is to convince the warfare construction lobby? They will never stop doing this, until it's all over.
From Switzerland
@ stillsceptical,
Actually... you are the one that is an idiot poster. Prices in Las Vegas are now down even further because of high unemployment. Even after hundreds of billions of spending borrowed money by Obama/Pelosi and Reid .. unemployment is still ridiculously high and now we have even MORE debt.
As far as your claims about Non-Regulation by the GOP... you are REALLY Clueless or maybe you believe liars. Not sure...
Here is some education material for you:
The financial institutions poured money into the home lending market to buy Government backed securities from Fraudie Mae and Fraudie Mac.
If it was not for the corruption in Fraudie Mae and Fraudie Mac, they NEVER would have invested in that crappy paper.
Regardless... there was a chance to reform Fraudie Mae and Fraudie Mac before the problem ballooned even larger and created the financial disaster that it did. HOWEVER... at that time, it was blocked by the Same Idiots now in Charge!
Dedicated to all of the Socialist Progressives and the lies they tell:
http://www.youtube.com/watch?v=cMnSp4qEX...
And watch how stupid Maxine Waters, Barney Frank and others are here:
http://www.youtube.com/watch?v=_MGT_cSi7...
By the way... the Fannie Mae CEO that cooked the books and helped create the real estate bubble market, was at one time President-elect Obama's advisor.
http://hennessysview.com/2008/09/15/fran...
Franklin Raines and buddies have created a new company to control energy trading if the next big Cap & Trade regulation the Socialists want is passed.
Stop the Lies and speak the Truth. Until then... the Country is just one big Titanic heading straight to the iceberg full steam ahead.
http://www.youtube.com/watch?v=4ECi6WJpb...
If you really think what you think... then you should be thinking that what the Government is currently doing will lead to something 4x worse then what we are currently experiencing today.
Have a Great Day...
I believe in Las Vegas. I like it here. We will clean house in the next election. This will be an all Republican state with the tax and spend politicians like Reid gone to retirement. I think the people here are the best.
Hold on Las Vegas all is not lost, the whole world is in the crapper right now. You have a great chance to come out of it better now that the vultures that thought they could make a killing in the housing market are leaving town.Everything runs in cycles and you have an election that can change how that can happen. I wish I had that chance for I live in the Socialist state of Maryland where the same party has had control for over fifty years,yes every once in awhile the gov. changes but the gypsies,tramps and socialists stay the same.
The article says one way bus tickets are up it's how the illegals are leaving and getting to Md. so they can get a drivers license without documentation,lower tuition at the U of Md. and public housing for $45.00 a month with cable.If Nancy Pelosi's father had his way when he was the Mayor of Baltimoe he would have torn down Fort McHenry(the place some lawyer named Key wrote a poem that turned into a song they sing at the beginning of NASCAR events)to build more public housing for more votes.
My wife and I have been to Las Vegas 4 times in the last 3 years twice for NHRA events in the fall and twice just for a vacation we love. People can go to other states for casinos but they just don't compare, we've been to A.C. it sucks for what you pay for a week stay there you could fly to Las Vegas and stay in a clean well kept hotel insead of driving through a marsh and looking at slums and staying in a dirty unkept room.You can't get a better bang for your buck anywhere.
For the guy who has 3 houses and a condo it sounds like he's trying to over compensate for something.
Welcome to Vegas - where cops shoot you first and ask questions later ....
Las Vegas will be back. I know it's painful but the contraction of the economy is a good thing in the long term. Las Vegas was never meant to be a big city per say, it was always a small hard working blue collar type town. It was affordable you could do well if you just worked. It was overbuilt in an instant by greedy folks who got their money and ran. All the building wasn't smart and when you have a bunch of supply with no one to buy it gonna drive down housing prices. It was a true bubble because jobs in Las Vegas don't support those kind of prices. At some point businesses are going to move to Las Vegas because there won't be a better deal for commerical real estate on the west coast with an major airport. It's gonna take many years to stablize but when it does it's gonna be a more diversified city. Folks have to get their education up and not be like plenty cities I know where after the colaspe of an industry (true) locals couldn't get the jobs that did come. Cause they will come; cause property will damn near be given away and the housing and location can't be beat. There needs to be taxes point blank there is no free ride. You don't got to beat people into submission ie= California but pay something. Las Vegas was country town with an amusement park when they keep it as that they did g