Word: recessional
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See 10 big recession surprises.
The real estate mistakes on the Strip were made in miniature by thousands of Vegas homeowners. To see the real devastation, I have to leave the line of casinos along the Strip and drive to where people in Las Vegas actually live. I head out to spend the day with...
Just as Americans did with their houses, casino owners borrowed way too much money to build hotels that were way too big. Economists like Yale's Robert Shiller have warned that the next big wave of failures in the U.S. recession will be in commercial real estate - and once again...
The recession has hit everything from philanthropy to stripping to the solvency of Nevada. Because Nevada has no income tax and relies almost entirely on taxing casino owners, the state is nearly bust. Governor Jim Gibbons, a Republican, whom only 11% of voters say they would re-elect, tried to...
If it's this bad, why, then, does every Vegasite I meet still talk as if he or she is about to go on a winning streak? The people in Vegas aren't nearly as depressed as those in far less devastated cities. "This is a town built on hopes...