Las Vegas Sun

I am from California. I am planning to do an addiiton to my house. The cost will be over 200k. I said to my contractor, "Maybe I should just go buy a house in Vegas instead for the same money".

The whole unlawful internet gaming law is joke, even forgetting about the sneaky way it was made into a law.

People who want to play online poker will do so regardless of the law. It just makes it less convenient.

If our legislators had any brains, they would legalize it, regulate it, and tax it. Oh that's right, they're politicians.

I love people who blame the banks, brokers, etc for their problems. Sure there was mis-guidance, if not out outright fraud.

At the end of the day though....

YOU borrowed the mony

YOU should have understood the terms, and if not, hired someone who did to explain them to you

YOU should take accountability for your debts and not expect the government (read taxpayers lime me) to bail you out.

I think everyone in Vegas has been brainwashed to believe uncontrolled growth is the norm and will continue forever.

Does anyone really believe it is viable to keep adding thousands of hotel rooms each year? Or to keep building massive sub-divisions far into the desert?

We have seen it time and time again that things cant grow at high rates forever. Look at the dot coms, look at housing prices, ....

Vegas recent growth was built on cheap energy and an artificially booming economy (due to housing speculation) - those days are over.

Is anyone surprised by this high rate of foreclosures?

If you allow people to buy homes with no money down, no documented income, neg am loans, and inflated appraisals - what do expect to happen?

Vegas has 2 big issues, water and energy. I actually believe energy is the more urgent concern. Oil prices will only go up. Yes, there will be periodic reductions, but the overall trend is up. Global demand is increasing rapidly, and even additional drilling is a short term response.

Vegas is so dependent on cheap energy for its economy in terms of both tourists and in terms of costs of transporting virtually everything to the city.

I really dont see how Vegas can even maintain its current economic situation, let alone have economic growth unless somehow the cost/availability of energy is addressed.

I am not a resident of the area, but my parents have lived in Henderson for 15 years and I have made countless visits to the area.

I was continually shocked by the amount of endless building that I saw throughout the 90s and early/mid 00s. I figured most of it was speculation and not real housing demand - even though Vegas was having a strong influx of people.

I truly hope it all works out for you all who have bought in these massive sub-divisions, but my belief is that given the soaring cost of energy and travel, coupled with the tanking economy, Vegas is in for some very tough times ahead. Even with that being said, I still like the area and would consider buying there when I retire due to the low cost of living.