A couple of years back I speculated that after home builders the next crash was surely Vegas Casinos, oh that I had bought puts!
Now condo buyers have even started blogs commiserating with one another.
I was there last summer and it was ridiculous then. Just how much market is there for what appeared to be unlimited condos on the Strip? And clearly no one planned to live in them. Like Miami it was a sort of time share but not even that, just a bet that Vegas would always expand and that a million dollar condo could be flipped. At least in NYC there is some justification for a high priced Central Park view apartment, it is a center of business. This is hardly the case for Vegas.
Most of the real lestate problems are centered in a few stats like CA, AZ, NV and FL, how about we auction those states off to say George Soros, he believes in government…
Professor Elam 
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