Saturday, January 02, 2010

Las Vegas vs. Pittsburgh, The Rematch

Some may recall that a few months ago the Las Vegas Sun had an intriguing article all on the unlikely comparison of of Pittsburgh to Las Vegas: Lessons Las Vegas can learn from the Rust Belt

They have a follow up of sorts: Rust Belt, Las Vegas comparison premature — even with gaming in peril

and they have a companion piece with quotes from Burgh migration sage Jim Russell : Lessons from the 2000s beckon. Will we heed them?

So again, as all our hopes rest on the success of the casino, the folks in Las Vegas look to us for answers. Go figure.


Blogger Burgher Jon said...

One major flaw in the comparison between Vegas and Pittsburgh is the extreme drop in housing prices in Vegas. For the next 5 years, that will shape Vegas.

I went to Vegas in December and on the way home I sat in first class (lucky upgrade) next to a guy with a very nice, secure, executive level job. He's considering leaving the keys to his house in the mailbox and taking off. The house has lost $200,000 in value and is about $150,000 below the price of the mortgage and he's wondering if a credit score is a good enough reason not to leave. As far as I know, that's a significant part of Vegas' history that we never experienced.

Saturday, January 02, 2010 1:28:00 PM  

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