Quote:
Originally Posted by Marvland
Oh I love me some Vegas. Not because of it new shiny projects. But because of the town and the city. It has amazing access to wilderness and is in a great location. But your statement that the water issues they face will be solved is, er, optimistic. Mead is nearing dead pool. It's bleak. Every large scale development you list is in hospitality. Their economy is growing in the right directions but it's a one trick pony. Salt Lake CSA economy is a real economy. Super diverse. We are on the tail end of a massive asset bubble and I'd be surprised if any number of those projects actually happen or don't retrade in Chapter 11. This is the Vegas way. Hold on to your hat. So I'll stick by my prediction.
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Much of what you're saying is true Marv, and I'm with you on loving Vegas. While the Vegas economy is not nearly as diverse as the Wasatch Front or the Front Range it has made some notable progress in the past few years. Much of that progress is due to Vegas being the number one city for businesses fleeing California and reestablishing themselves elsewhere. Definitely, Vegas is still weighted too much toward the hospitality side, but its bust cycle will not be as catastrophic as was previously experienced in the great recession.
As far as the four corner states and especially Vegas and So. Cal. agriculture becoming a Deadpool that remains to be seen. The emergency alarms are sounding, but for right now it would seem that the Heavens and Mother Nature are giving us a bit of a reprieve. Hopefully, the public will keep up the pressure on politicians to correct the severe lack of water conservation, capture, and storage, with an emphasis on capture and storage. The time has passed when we can solely conserve our way out of the drought cycle mess we have allowed to creep up on us.
Edit: Just now reading Locolife's post, which I very much agree with. A great deal of the immediate problem resides with Southern California using far more of the Colorado River than was historically allowed by Federal mandate. For several decades now California has refused to sensibly address its serious lack of water infrastructure development. Instead, it has relied on using far more than its share of the Colorado. Hopefully, the latest rounds of Federal mandates will force California to step up its infrastructure development and realign the Colorado River usage back to its original intentions. It would only be a temporary solution given the hyper-growth of States like Utah, Colorado, and Arizona. Even so, it would definitely give Metros like the Wasatch Front, the Front Range, and the Southwest some breathing room. While in some respects I'm not a big Romney fan, I do suspect that he will be key in working this issue out with the current surrounding state powers that be. If he can be instrumental in doing that, along with spurring the salvation of the Great Salt Lake, and further key water capture and storage capability then he'll definitely gain my support in the future.
Something that a lot of you have probably noticed that has come to the forefront over the past 48 hours is the new COVID death spread and panic occuring in China. Maybe at this point I'm being a little paranoid having gone through the last outbreak here in somewhat paranoid Los Angeles. However, already, serious flight restrictions are being enacted internationally, with promises of even further shutdowns. Also, States such as California are in discussions of tight public indoor mask mandates and quite possibly another round of debilitating restrictions. If we're in for another pandemic I hope states like Utah will have learned from the last positive and negative actions and will weather the storm as a go-to island of common sense relief and not over-reaction shutdown. If Utah can once again remain a comparative haven I think many sectors of its infrastructure and real estate development will continue to thrive even during the upcoming challenges.
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