posted by Christopher James
Although we're really excited about visiting less-travelled locations like Rachel and Baker, we'll also be visiting Las Vegas, one of the fastest growing metropolises over the last decade. That fast growth, however, also put Nevada on the leading edge of the Great Recession. The state was hit extremely hard by the foreclosure crisis and Las Vegas was walloped. For evidence, look no further than the change in rental prices.
That's a selected list of rental rate changes over time. Washington, DC, where I live, was barely affected by the downturn (and my rent reflects this). Las Vegas, meanwhile, has yet to recover. One wonders if it ever will.
One way to frame Nevada's history is as an ongoing struggle–maybe even a revolt–for prosperity and independence. The state was founded by settlers seeking separation from the Utah Territory, and the landscape is dotted with ghost towns, whole communities abandoned due to economic hardship. Even the distinctive culture of Nevada, with its clashing motifs of cowboys and neon-studded gambling resorts, reflects evolving market realities.
It seems sometimes that Nevada is just a ship tossed on the waves of economic history.
Although we're really excited about visiting less-travelled locations like Rachel and Baker, we'll also be visiting Las Vegas, one of the fastest growing metropolises over the last decade. That fast growth, however, also put Nevada on the leading edge of the Great Recession. The state was hit extremely hard by the foreclosure crisis and Las Vegas was walloped. For evidence, look no further than the change in rental prices.
That's a selected list of rental rate changes over time. Washington, DC, where I live, was barely affected by the downturn (and my rent reflects this). Las Vegas, meanwhile, has yet to recover. One wonders if it ever will.
One way to frame Nevada's history is as an ongoing struggle–maybe even a revolt–for prosperity and independence. The state was founded by settlers seeking separation from the Utah Territory, and the landscape is dotted with ghost towns, whole communities abandoned due to economic hardship. Even the distinctive culture of Nevada, with its clashing motifs of cowboys and neon-studded gambling resorts, reflects evolving market realities.
It seems sometimes that Nevada is just a ship tossed on the waves of economic history.
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