Will Las Vegas see a major bubble bursting as the tourism industry falters due to rising gas prices? Or will some sort of perverse American logic appear that says 'I am so stretched thin financially that I might as well gamble'?Fuel prices in Nevada neared $3 a gallon for unleaded regular and were closer to $4 a gallon in many other parts of the country on Thursday, and AAA Nevada said this state's average prices could quickly increase.
"There is concern in the industry how the consumers are going to react whenever you have these kinds of price increases," said Bill Bible, executive director of the Nevada Resort Association which represents most major hotel-casinos.
Friday, September 02, 2005
Las Vegas Bubble, Tourism & Gas Prices
Las Vegas has been a major bubble city. The city is highly dependent on tourism. Now, with gas prices rapidly rising the Las Vegas Sun had this article:
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ReplyDeleteSounds like buying there and commuting to LA is no longer an option :)
ReplyDeleteCole @ BigHousingBubble