Nevada’s real estate industry blamed wrong enemy when bubble burst

/ Owner - May 24, 2019

Las Vegas’ economy is on strong footing today, but in early 2015 it was still climbing out from the dark days of the recession.  The valley was still flooded with underwater houses, Nevada had one of the highest foreclosure rates in the country, homebuilders’ sales in Las Vegas remained a fraction of their bloated, bubble-era peak, and squatters were taking over vacant homes across the valley.  Nevada’s real estate industry, ignoring its wobbly legs, blamed the plunge in new-home sales on a different enemy: construction defect litigation. And Republicans controlling the state Legislature at the time were more than happy to help.     Read the article………………………..

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