Easy Come, Easy Go

The buyers with whom we signed a contract little more than two weeks ago have withdrawn, and so it’s back to square one. In the current Las Vegas market one can’t even give a house away. In addition to being disappointing, it’s demoralizing to have such a major investment devalued to practically nothing. In my July 21, 2008 post, I pondered the susceptibility of Las Vegas to the impending financial crisis. Now, with two years hindsight, I can attest to the fact that Sin City was not immune. Leading the nation in unemployment and home foreclosures, Las Vegas is suffering from Wall Street's gambling as much as any place. Imagine, corporate evil actually turns on itself. I have learned many things since moving here fourteen years ago, not the least of which is that greed does not care who gets hurt—even if it means those who have faithfully nurtured it.