In a recent ranking of the 100 largest cities in the United States, Las Vegas was rated the 11th worst run city in America. Las Vegas lawyers can help if you are dealing with bankruptcy or real estate difficulties as a result of the troubles in Las Vegas.
The ranking done by 24/7 Wall St. based the rankings on local economies, fiscal management, and quality of life measures. To evaluate the long-term management of the city, it looked at the city’s credit rating, crime, unemployment, poverty, education, and regional GDP.
Las Vegas has an unemployment rate that is one of the highest in the country, and the violent crime rate is 7.41 per 1,000 people, the 36th highest. Las Vegas also has major debt expenses to pay off the pricey new city hall and parking garage.
Additionally, Las Vegas was devastated by the housing crisis with home values declining by more than 50 percent between 2007 and 2011. And with all the foreclosures, Michael C. Van, a Las Vegas real estate attorney, thinks a majority of Las Vegas homeowners owe more on their homes than the homes are actually worth.
Even though Las Vegas is ranked among the worst-run cities, at least it is not the very worst, that title goes to San Bernardino, California after all the bankruptcy troubles it went through the past year. The best-run city, according to the ranking, was Plano, Texas.
If you are experiencing difficulties with your house payments, or if you face foreclosure, contact a Las Vegas real estate attorney at Shumway Van & Hansen for help.
The lawyers at Shumway Van & Hansen always offer free consultations so if you need help be sure to schedule your appointment today.