preview

Las Vegas Research Paper

Decent Essays
Open Document

Las Vegas casinos are vast luxurious multi-billion dollar architectural structures with inviting gambling tables covered with tight bright felts and shiny new cards ready to hit 21 in one single hand, the unforgettable “ding” “ding” “ding” of the slot machine feels like adrenaline at the possibly of becoming a millionaire. Outside of the casino the city that never sleeps is full of life and neon lights that sparkle from all around. The Strip is a glorious chaos with hundreds of people walking in all directions. Explosions of the beautiful synchronized dancing water fountains at the Bellagio and the amazing fireballs of the erupting volcano at the Mirage intensify Las Vegas experience. However for residents, Las Vegas is far from a multi billion-dollar experience. The recession domino effect blasted the house market and left millions unemployed. …show more content…

Entire neighborhoods would be up from the grown in just weeks. Banks across the Vegas Valley approved mortgage loans to whoever requested one regardless of their income and ability to make monthly payments. The high demand set the house prices out of control inflating them through the sky. When the recession hit the prices hit bottom leaving homeowners upside-down with their investment. Banks claimed thousands of homes and foreclosure became the new leader in the house market (segal). In 2011, I was one of the lucky first time homebuyers that were able to buy a home that just three years prior was valued at $475,000 for just $90,000. However, half of the homes in my new neighborhood were either in foreclosure or/and

Get Access