Saturday, April 11, 2009

Day 5 in Las Vegas
The Coffee Bean, near Red Rock Casino

I have discovered I like it here, so far. The area around Town Center and Summerlin Parkway is especially nice. Close your eyes and you could be in northern Tucson, Scottsdale, or any number of nice suburbs around the southwest. Out here, you can easily forget that The Strip is located a few miles east. Look west toward Red Rock Canyon and the mountains and forget you are in the world's biggest playground.

I've met a few locals, including a Keller Williams real estate broker, a entrepreneur who sells DVDs and books online and is a distributer for SendOutCards.com. I've met a photographer/mountain climber/trail guide from Seattle who has a Nikon D300 I covet. Plus a few business owners who I've met while looking for a job. Looking for work in this economic recession is a challenge, but one I enjoy. Looking for a job helps you learn the city, meet some locals, and you get a sense of what's happening in the local market and economy.

Whenever I've entered a new city, knowing that I'm going to stay awhile, I immediately begin looking for a job. In Las Vegas, as in many cities, the unemployment rate has skyrocketed. But jobs are still available; it just takes some footwork and patience to find them. If you haven't hit the job-hunting trail in a while, understand this: most companies now take applications online and it can be a real pain in the neck. Many sites use questionaires to test your personality type and work ethic, and these drawn out sessions border on the ridiculous.

I long for the old days when you could walk in for a job interview on the spot, fill out an application, get hired or not, then leave. While many small retail stores in shopping strips may post a Help Wanted sign, most franchise companies will simply send you to their web site.

I've been in Las Vegas before, but never for five days straight. I'm beginning to develop some impressions of the place and people who live here. It's no mystery that the health of Las Vegas is tied to the gaming industry.

For reasons I can't comprehend, many leaders in the casino industry were unable to see the current economic crisis coming. As a real estate broker, I attended meetings in 2000 that predicted this very situation. The signs were all there. A housing and credit crisis was coming. (We were told in our meetings in 2000/2001 that the crisis would hit in 2010. Evidently the 9/11 attacks pushed the timetable forward a bit.) So I'm really amazed when I read in the local press that no one saw this downturn coming, or that they are shocked to see a drastic decline in tourism and gaming. The old myth was that gaming and entertainment here was "recession proof."

The MGM Mirage, for example, is near bankruptcy. If it were to fail, the effects on the local economy would be devistating, says the newspaper. So here comes help, probably a bail out of some kind, to help a leading employer stay afloat. The MGM is developing a new complex, CityCenter, and the timing of such a project was always in question. Now with the current ecomomic atmosphere, the MGM is in trouble. But since they are "probably too big to fail", help is likely on the way.

Harrah's on the other hand, may have been the smart ones by holding off on developing their own new toy, the so-called "Epicenter." Back in 2006, they may have seen the writing on the wall and felt the timing wasn't right. They slowed down on their development plans. For MGM, however, it was "if we build it, they will come."

So now we find Las Vegas a little shaky, and more than a little nervous about the coming months. Signs are good that things will turn around, probably next year. But until then, I get the feeling the local business owners and residents are going to be holding their collective breaths to see what continues to happen on The Strip.

As for me, I'll keep pounding the pavement to see what job I can find.

Tuesday, April 7, 2009

Day One in Las Vegas

Day 1 in Las Vegas
Starbucks, near Red Rock Casino

Made a long drive to Las Vegas yesterday...525 miles. I don't think I've ever driven that far in one day without stopping before. I felt relieved it was over, but dog-tired. I left Carmel at 9:30 a.m. and arrived last night at sundown in Sin City, around 7:30 p.m. I made the drive with just two stops to stretch my legs and grab a Quarter Pounder.

Ten hours is just too long to stay on the road without a significant break. I was proud to average 52.5 miles an hour, though. Not bad when you consider the two-lane road across central California that slowed me up a bit. The drive across the Mojave Desert was maddening, too. When I see places like Mojave, it makes me wonder about the so-called overpopulated planet we live on. Looks like we have plenty of room to grow if you don't mind high winds, sand storms, and a hot blazing sun.

I'm hanging out mainly in the Red Rock Canyon area of west Las Vegas. The Spanish Trail area has an abundance of million-dollar homes, plus a very nice country club. Now if I could only come up with a million dollars.

_____________________________

I visited the campus of UNLV today. But it's Spring Break so not much was happening. The Lied Library was all but empty, just a few students working on computers. The campus was a ghost town. I spoke with a nice girl in the Fine Arts Advisors office about the art department. She was just filling in for the regulars who were gone for the Break, so she didn't have much to say. She had a nice smile, though. (I know what you're thinking...but I'm old enough to be her father...which shouldn't be a problem now that I think about it.)

Sunday, April 5, 2009

Day 279 on the Monterey Peninsula
Wild Goose Cafe, Carmel Valley

I'm packed and ready to go, and spending today saying good-bye and resting up for the road ahead that will lead me to Las Vegas. I'll be leaving in the morning, after exactly 280 days on the Monterey Peninsula. I'm sure I'll be back some day. The area is just too beautiful to ignore.

The beach at Carmel is among the most amazing sites in the country. Ed Weston and Ansel Adams lived here, as did hundreds of other artists and photographers caught up in the sheer beauty of the ragged coast and mountains. As an artist colony settled after the San Francisco fire at the turn of the last century, Carmel has now become a tourist destination for art lovers and beach-walkers. Of course Monterey is only a couple of miles from Carmel and is home to Fisherman's Wharf and Cannery Row. I love the area, but would have been more happy had I lived here in the early days when the peninsula was first being settled. Commercialization, over population, traffic, tourism, a state government gone wild burdening its citizens with taxes and restrictions, and a sense that an underlying class warfare is waging beneath the surface of paradise has made me long for simpler times.

The cost of housing and food is so severe, that the workers who support the economy of the Peninsula can 't afford to live there. Most laborers and medium-wage workers must drive or bus miles into the area in order to work. With most modest housing starting at $900 a month or more for a small apartment, no one making $10 an hour can afford to live within 15 miles of this paradise.

With all its beauty and offer of a wonderful lifestyle, Carmel and Monterey remains basically off limits to middle America.

I suppose it's the same across the country as the shrinking middle class gives way to the two-prong system of the Haves and the Have-nots. The widening of the classes between the rich and poor is becoming more pronounced. When a new resale shop opened near my studio I was amused at the name for the new business: "Rich Man, Poor Man." That pretty well sums it up. Resale shops are doing bang-up business during this economic crisis as middle America discovers how poor they are. The rich, of course, keep getting richer. They have their buyouts and government subsidies.

So it appears Paradise will remain the home of the rich. Middle America will discover there is no middle, only those who have money and those who do not.

_____________________________________

Speaking of the "Haves", it seems Facebook is having a wonderful year. They claim to have 200 million users now, doubling its userbase in the last seven months. Speculation is rampant about an IPO coming soon, perhaps by summer. But Mark Zuckerberg has stated "not so fast." Zuckerberg began Facebook in his college dorm and is another billionaire trying to figure out what to do with a company growing too fast. With 800 current employees, the Palo Alto juggernaut's worst case scenario is to be gobbled up by another company like Google for a few billion dollars. If I were Zuckerberg, I'd cash out and buy a house in Carmel.

We May Be in for a Perfect Storm of Home "Unaffordability".

I recently read about celebrity real estate agent Mauricio Umansky, who raised concerns about the "perfect storm of total unaffordabili...