When it comes to housing, Las Vegas consistently ranks near the top for most foreclosures and underwater mortgages. And this forces many Las Vegans who are underwater to make a choice: stay or walk away? How has the housing situation changed this past year? What decisions has it forced Las Vegans to make, and how has it affected the culture and optimism of the city? Also, what does our real estate situation look like to the rest of the world? We talk to experts, plus some homeowners on how their lives have changed. Also, special guest Lawrence Pollard from the BBC joins our panel to see how one of the country's worst foreclosure rates can change an American city.
The economy in Las Vegas has illustrated the worst the recession has had to offer over the past few years. Record foreclosures and unemployment coupled with slow tourism have put Las Vegas and Nevada at the bottom of many lists that measure economic health. It's been difficult for economist and experts to predict when and how the economy in Las Vegas will recover and every month as measurements for housing, tourism and consumer spending come out there have often been surprises, good and bad. So what can we learn from the past and what does the future hold? We're joined by a panel of experts as well as two unemployed citizens and an MGM Resorts International executive to talk about the state of, and future of the Las Vegas economy.