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Carnage in Las Vegas Housing

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November 06, 2007 – Comments (0)

You gotta see the charts and figures that Housing Doom put together on this mess. Prices nearing 2004 levels and sales still falling off the cliff.

Remember all those jokers a couple years back talking about how Vegas home prices were going up, up, up because of the shortage of land (ROFL) and all the great jobs? Turns out people dealing blackjack, scrubbing dishes, and swabbing toilets in Casino Hotels can't afford quarter-million dollar McMansions without toxic loans, so down she goes...

Oh, let's not forget the little problem that Vegas is in a desert and there's not enough water to go around. There will be tumbleweeds blowing through these rotting developments soon.

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