Economy bad for Vegas real estate.

[nutforslots]

Experts are saying that the economy is crushing the Las Vegas real estate market.

The sagging economy will weigh on the Las Vegas real estate market and boost foreclosures on residential and commercial properties, according to a panel of local business executives.

The group, composed of a lender, a bankruptcy attorney and a consultant, said the Las Vegas recovery will lag not only the nation but competing markets such as Phoenix.

Many of the issues in this city are the same everywhere else. The homeowners who owned the large homes were also those who owned local business's.

With unemployment being what it is people don't need there services as much thus they are loosing money. This is putting them in the position of foreclosure along with the rest of us.