“No, but it can almost look like it on GoogleMaps,” Steve Hayward writes at the Ashbrook Center’s No Left Turns blog (click over to see the map in question):
This is a slice of the west side of Las Vegas (where I am today)–the more recently developed part of town (the 1990s and this decade) out to Summerlin. Each red dot represents a house in foreclosure. And this surely understates the number of homeowners behind on their mortgages. Add to this the likelihood that a high percentage of all the homes in this area have negative equity (because many were bought in the last few years during Las Vegas’s rapid growth, and where the housing bubble got blown up larger than other places), and you can probably get good odds here in a betting house that there is a lot more trouble still to come, and you begin to have a sense that the Great Reset, or whatever we’re calling this economic cycle, is going to take a long time to work itself out. What happens if these neighborhoods never come back? See: Detroit.
And the burning Nevada heat, tolerable only via air conditioning, Salon’s bete noir doesn’t lend itself to farming, as one of the wilder proposals to salvage the nightmare of Detroit (as Steven Crowder highlighted in video and Matt Labash in print) suggested.
Related: “Volunteers Take Better Care of Detroit Than Elected Officials.”
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