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Abstract:
The value of non residential building construction starts in Los Vegas doubled in 2007, primarily for hotels and retail, but is slipping faster than in the rest of the US in the last three month even with more than $1 billion of hotel contracts in March. Combined with the city’s deep housing recession and the state’s severe budget crisis, the outlook for nonresidential building construction has turned from super boon to a possible bust.
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Comments
06/30/2008 - posted by GT
Great post Jim! This credit crunch has really dampened the economy. But it was a bubble longtime coming to burst.
Hopefully we don’t have to worry about the fed raising rates. The financial system would not be able to take it, the labor market doesn’t need it, people are so miserable these days they care much more about job security than wages, and the housing market requires no further comment.
