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Unread 05-19-2010, 05:47 PM
 
Location: North Las Vegas
1,484 posts, read 2,025,103 times
Reputation: 603
Here is an article in todays RJ on the economy and what it's going to take to turn it around and how long it may take:
Tourism, construction stall economic inde

The health of Las Vegas' essential tourism industry has improved in some areas but remains largely a drag on the overall economy, the director of a UNLV research center said Tuesday.

 
Unread 05-20-2010, 09:10 AM
 
Location: Paranoid State
2,276 posts, read 1,825,335 times
Reputation: 1755
Quote:
Originally Posted by RinVegas View Post
Oh no, should I sell the MGM stock that I bought in July for $6/share that is now over $14/share since you said it will never survive this? I'm telling ya folks, just do the opposite of what everyone else is doing....
Perhaps yes, you should sell the MGM stock, but for a different reason than the one you cite.

If you live in Las Vegas, and you work in Las Vegas, and you own a home in Las Vegas, and you own stock in companies who are dependent on Las Vegas, then you have a fairly non-diversified portfolio. In one fell swoop you could lose your job, watch the value of your home drop, and watch the value of your stock drop, all from the same root cause.

The best people to own stock in Las Vegas resorts would be, for example, people work & live in, say, Oklahoma. Any thing that affects their local economy is not likely to directly effect the Las Vegas economy, and vice-versa.

People who live, work & own homes in Las Vegas would be well-advised to own stocks in companies that do business elsewhere purely from a diversification perspective. Never have all your eggs in one basket.
 
Unread 05-20-2010, 06:15 PM
 
Location: Here and there, you decide.
9,153 posts, read 13,252,405 times
Reputation: 2229
huh? thats like saying that if you own 5 rental properties in vegas, you shouldn't live in vegas..
 
Unread 05-20-2010, 06:49 PM
 
Location: Paranoid State
2,276 posts, read 1,825,335 times
Reputation: 1755
I understand your point about 5 rental properties. All I'm saying is if I have the choice of investing my stock market money in local gaming companies or in quality companies in other industries, I will opt for other industries.
 
Unread 05-20-2010, 07:13 PM
 
10,485 posts, read 12,925,890 times
Reputation: 6304
The only way Las Vegas will ever recover is if we succeed from the union and become our own country. The off shore banking cartel has siezed our federal government so things are going to continue to suck in Vegas because of that.
 
Unread 05-21-2010, 08:41 AM
 
Location: North Las Vegas
1,484 posts, read 2,025,103 times
Reputation: 603
It looks like the recession is not getting better with unemployment now at 14.2% in April for Vegas not much better for the whole state. With the stock market in a mess and the unemployment high, and 1 in 69 homeowners in Vegas and surrounding area in foreclosure this is going to take years to recover.
 
Unread 05-21-2010, 11:38 AM
 
Location: Las Vegas
3,731 posts, read 5,263,600 times
Reputation: 1211
Quote:
Originally Posted by 007 license to sell View Post
It looks like the recession is not getting better with unemployment now at 14.2% in April for Vegas not much better for the whole state. With the stock market in a mess and the unemployment high, and 1 in 69 homeowners in Vegas and surrounding area in foreclosure this is going to take years to recover.
With all that bad news, it still ain't gonna stop people from moving here, that's for sure
 
Unread 05-21-2010, 12:47 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,250 posts, read 10,384,831 times
Reputation: 3587
Quote:
Originally Posted by MomMom View Post
With all that bad news, it still ain't gonna stop people from moving here, that's for sure
I might move there but not anytime soon. Maybe in 12 years.
 
Unread 05-22-2010, 12:55 AM
 
3,308 posts, read 3,373,569 times
Reputation: 2088
Quote:
Originally Posted by 007 license to sell View Post
It looks like the recession is not getting better with unemployment now at 14.2% in April for Vegas not much better for the whole state. With the stock market in a mess and the unemployment high, and 1 in 69 homeowners in Vegas and surrounding area in foreclosure this is going to take years to recover.
More people were employed in Nevada last month than in March, despite the cuts in government jobs which are usually very hard to overcome and very rare indeed. The unemployment rate has been going up for years now for the same reason: Many more people are moving to Nevada than jobs being created (or in reality eliminated). Its hard to believe with all the news reports about how bad it is in Las Vegas the potential workforce still went up by 13,000 people over the last year. This is both the problem and the sign of a recovery which may not be so easily viewed if you read the depressing stats too much.
 
Unread 05-22-2010, 09:08 AM
 
Location: Kingman AZ
15,387 posts, read 20,558,421 times
Reputation: 8483
I wonder:
Is the change in percentage due to more PEOPLE unemployed or because so many ratts have left the sinking ship....... just a thought...

the recession will be over when my stepson gets a job and moves out
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