Insight on the Las Vegas Economy from Prominent Las Vegas Bankers
Posted by Paul Francis on Sunday, June 27th, 2010 at 8:13pm.Local Las Vegas Bankers share thoughts on Las Vegas Economy
Certainly worth a read in today's Las Vegas Review Journal that you can read here:
Local Las Vegas Bankers Share thoughts on Las Vegas Economy
The headline / title to the story was terrible compared to the content. I'd love to copy and share some very thoughtful quotes and expand on them right here, but the Las Vegas Review Journal appears to be on a witch hunt for bloggers copying / sharing any of their content according to these articles in the Las Vegas Sun and have filed several copyright lawsuits on sources sharing information to their readers.
Regardless... with the reality of what is really going on in the true fiscal condition of the global economy, the top Local Las Vegas Bankers in town have some very good insight of what is taking place locally.
Dallas Haun, the CEO and Chairman of Nevada State Bank has a wonderful answer on the lesson learned that some of our certain representatives in D.C. supporting Keynesian Economic theories need to take the time to understand before supporting programs that are only going to eventually make things worse.
While recent headlines have given Nevada the distintion of being ranked #1 in some not so appealing areas such as Unemployment and Foreclosures, I really like to think that Las Vegas is just ahead of everybody else in what it is going to take for a truly sustainable recovery. Being a Real Estate Broker in Chicago, I saw what happened to Las Vegas Real Estate hit the Chicago Real Estate market a good full year plus later.
As Dallas Haun of Nevada State Bank States in the RJ Article:
"The whole Las Vegas economy is in the reset mode: resetting prices, resetting values, resetting debt loads, resetting expectations."
Well stated Mr. Haun.
Paul Francis
Prudential Americana Group
Las Vegas Real Estate
702.592.3058
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