..

Las Vegas the New Detroit?

Written by:
Aaron Goldstein
Published on:
Jun/07/2011
Las Vegas New Detroit

With a foreclosure crisis that has been out of control in recent years, Las Vegas may quickly spiral to become the new Detroit.

Vegas received further bad news this week when Singapore topped Sin City as the 2nd biggest gambling destination in the world.  Macau has been crushing Vegas in recent years.

Home prices here have fallen 58.1% from their 2006 highs.

From MSN Money

The median home-sale price in the Las Vegas area at the 2006 peak was $313,500; in 2010, that fell to a stunning $138,100, according to the National Association of Realtors.

Currently more than 70% of the homes in the area are "underwater," meaning their value is worth less than the amount owed on the mortgage, according to Stephen Miller, the chairman of the economics department at the College of Business at the University of Nevada, Las Vegas. Nationwide, it's more than 28%.

A recent Forbes survey named Las Vegas the nation's second-worst-performing housing market of the past decade.

The worst? Detroit

- Aaron Goldstein, Gambling911.com

eToro

Business/Financial News

Elon Musk Dubs Himself the "Dogefather" for SNL Promo Tweet

Elon Musk Dubs Himself the "Dogefather" for SNL Promo Tweet

Oddsmakers doubt an SEC investigaton will be launched following Elon Musk's SNL appearance this coming Saturday night, but you can still bet on it.

Hillarious Elon Musk SNL Host Betting Odds

Hillarious Elon Musk SNL Host Betting Odds

Bet on Elon Musk as SNL host.  Everything from what he mentions first, Dogecoin, Tesla, SpaceX and even whether he lands in trouble with the SEC.   Should be a great show.

Gemini Acceptance of Dogecoin Suggests Cryptocurrency Here to Stay

Gemini Acceptance of Dogecoin Suggests Cryptocurrency Here to Stay

Plus Dr. Craig Wright's master class on the variety of ways to extend Bitcoin addresses.

Cryptocurrency ether rose to a fresh record peak on Tuesday before dropping sharply as some investors pulled profits from a white-hot market bulging with questionable new entrants.

'Speculative Excess': Ethereum Finds New Peak in Sizzling Crypto Market

Cryptocurrency ether rose to a fresh record peak on Tuesday before dropping sharply as some investors pulled profits from a white-hot market bulging with questionable new entrants.

Bitcoin Jumps 8%, on Course to Snap Five Days of Losses

Bitcoin Jumps 8%, on Course to Snap Five Days of Losses

Bitcoin jumped as much as 8% on Monday and was on course to snap five straight days of losses, though the cryptocurrency has slumped almost a fifth from its all-time high hit earlier this month.

Syndicate