For example, demand for housing is increasing now so you see boulders getting back to work, even in hard hit markets like Las Vegas. More construction will lead to a better economic outlook.
More construction while distressed properties sit vacant (LV’s vacancy rate for rentals is 14-15%, apparently) or in bank limbo is retardedly stupid. Not to mention extremely environmentally wasteful.
Especially in a place with a horrid climate where no sane human would want to live, other than because of certain historical legal differences between Nevada and the rest of the country (which are shrinking by the day).
Overbuilding was one of the causes of the 2008 collapse, and is not the solution. As a friend from Phoenix said half-jokingly, the major industry of Phoenix before 2008 was expanding itself.
