The bubble bursts in Las Vegas. People think real estate is one huge market. It isn't. It's highly localized and subject wildly to local pressures. Vegas is going cold for many reasons. Not least of all is the sheer volume of space they have available. People with kids are far more likely to pull up stakes (if you'll pardon the pun) and move to the 'burbs so the kids can have space to play. I'm sure there's much more to it than that but I don't know enough about the market there to speculate.
This is very strange...
I'm an average guy with an average life. I have a few more kids than most but for the most part I'm just an anonymous lumpenprole toiling away in obscurity both professionally and on this blog. To say my life follows a certain routine is like saying " The Hindenburg caught fire." That is to say, technically accurate but wildly understates the truth. In any event, I just received a call from The Wife. To wit: "Did you order something?" "No, why?" "There's something here for you." "Uh, box, bag, envelope, singing telegram?" "It's a box" "Who's is from?" "It's from [Name redacted pending confession or further investigation]" "Who?" "(repeats name)" "No idea. Never heard of him." A quick google search later I find that the sender's return address is in the wilds of northern Pennsylvania. A place I have never visited. "Open it." "W...
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