Las Vegas is Epicenter for National Economic News

A new Time Magazine cover story is out that depicts Las Vegas as going from being the epicenter of extravagant consumption to now being in the deepest crater of the recession. 

Meanwhile, a report issued last week by Deutsche Bank said 81 percent of Las Vegas homes were underwater at the end of the first quarter — the fourth largest number in the nation. The report said that number would rise to 90 percent by 2011’s first quarter. 

Such nationwide and worldwide press on Las Vegas hasn’t been seen since the economic boom of 2004 and 2005.

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