The economy in Nevada isn't just bad, it's broken. "Growth was heroin to a junkie in this state," says Billy?Vassiliadis, the Democratic wise man and advertising and marketing executive whose firm has helped sell Las Vegas to the world. At the height of the boom in 2006, construction represented?12 percent of the workforce. "The joke is that in the boom years we were the only state that had construction workers building homes for construction workers," says GOP Rep. Joe Heck. Since the housing bubble burst, 90,000 construction jobs have been lost. Construction workers now represent only 4 percent of the workforce. No one expects the industry to return to earlier heights. Anyone who might want to swing a hammer in another state can't leave, because they'd lose money on their house.?In the first quarter of 2012,?Nevada had the No. 1 foreclosure rate in the nation. The?rate of debt to house value in Nevada is 114 percent.?People aren't just hurting, they're imprisoned.?
Source: http://feeds.slate.com/click.phdo?i=db8984b7ba9a41009b353d2919732ce9
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