Only Vegas: Optimistic No Longer?

We’ve been learning a lot about Vegas, and last week I read a report written from an intensive study and hundreds of interviews of citizens and community leaders. So I thought this week I’d share some “findings.” You may or may not be interested, but if not, just don’t read it.

One of the fascinating things about reading this report, which was conducted in 2004, is the unbridled optimism people had about Las Vegas. There are many comments from people like, “All we’ve ever known is growth. All we’ll ever have here is growth.”

Boy have things changed in five years!

Las Vegas has been hit harder by the economy than any other city but Detroit. Next to Detroit we have the biggest drop in average home price, jobs are scarce, construction has stopped all over. I’ve gone to a couple of meetings of local businessmen and/or government officials, and all you hear is, “Whoa is me. Whoa is us. What’s happening? Whyyyyyy? When will this end?!?”

Again, this just seems to make Vegas even more fertile for the good news we came to share…