In The News: Brookings Mountain West
You already know Las Vegas has one of the country’s worst economies.
Now, a new report takes things further.
The Brookings Institution, which is based in Washington but has a local research arm, said Tuesday that the Las Vegas Valley has the world’s fifth-worst economy. The think tank ranked the region No. 146 on its Global Metro Monitor, which rates the world’s 150 biggest metropolitan economies on their economic strength before, during and after the recession.
A recommendation by the National Commission on Fiscal Responsibility and Reform to limit the mortgage interest tax deduction has pushed a hot button within the real estate industry and could throw the housing market into further decline, some observers are warning.
Pop quiz: Did you know California once banned homework in schools? True. Following a campaign by the magazine Ladies’ Home Journal — which argued that the practice was not, in fact, good for kids — the state briefly halted it in 1901.
Now, most students, some parents, not a few teachers and members of the homework-reform movement will immediately become wistful for such an era (just as I’m wistful for a time when a print magazine could throw its weight around like that).
Michael O’Hanlon, a senior fellow in foreign policy at the Brookings Institution think tank in Washington, will deliver a public lecture on “Toughing it Out in Afghanistan” at 5:30 p.m. today at UNLV’s Greenspun Hall auditorium.
The recession and housing bust have accomplished what no other economic slump has managed to in the past century: end Nevada's population-growth streak.
Sharron Angle, the vanquished Republican challenger to Sen. Harry Reid, depicted herself in her brochures as a conservative warrior, driving her old pickup truck, brandishing a firearm. She picked up the Tea Party flag and waved it and then used the flagpole to stick the Nevada establishment in the eye. Although Angle lives in suburban Reno, her most fervent followers reside in the mostly white, rural counties.
A national expert said the run-up in home prices, overbuilding and subsequent foreclosures will stick with the housing industry for years. He suggested appreciation and construction will lag for the next 10 years.
To bolster her credentials in her strong conservative base, Sharron Angle, a Republican, shaped her candidacy for the Senate along a few lines of attack — against big government, against high taxes and against illegal immigration. Her economic message resonated across party lines, but was particularly effective among independents, most of whom voted for her over the Democratic incumbent, Senator Harry Reid, according to exit polls.
Foreclosures and plummeting housing prices. That pretty much summarizes daily life in Las Vegas. That's fundamentally changed how America's housing market works, says a Brookings expert. How will this shape future housing policies? How do we turn empty lots into community assets? Alan Mallach talks about the housing market "reset" and what's in store for homeowners.
The subprime mortgage crisis and massive home foreclosures have reset America’s housing market to a level more in line with today’s economy, which means less consumption and more conservatism, a scholar with Brookings Mountain West said Tuesday.
Hispanic voters could mean the difference between a victory and a loss for lawmakers in key states where Democrats are fighting for their political lives.
More Latinos today identify with the Democratic Party than a decade ago. In 2008, they voted overwhelmingly for candidate Barack Obama, who earned 67 percent of their votes compared to 31 percent for Sen. John McCain.
Republican Senate candidate Sharron Angle's campaign today denounced a controversial ad urging Hispanic voters in Nevada not to vote -- but Democrats replied that isn't sufficient. The ad caused national uproar after reports linked its sponsor to Republicans.