tag:blogger.com,1999:blog-11719208.post7506226148414247050..comments2023-11-05T04:36:14.223-08:00Comments on The Mess That Greenspan Made: Dashed dreams and disillusionment in VegasTimhttp://www.blogger.com/profile/16530974968126497397noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-11719208.post-47378755188700436722009-07-20T09:51:09.948-07:002009-07-20T09:51:09.948-07:00While Greenspan's policies helped create a hou...While Greenspan's policies helped create a housing boom in Las Vegas (and other places as noted by the WSJ story), his policies alone do not explain the bubble known as Las Vegas.<br /><br />Water in Las Vegas costs residents less than water in Minneapolis. How could water cost less in a desert than a city located in a state known for its abundance of lakes? Federal subsidies!<br /><br />Also, electricity in Las Vegas costs less because the city's grid is powered by a rural electric co-op. Yup. A Depression era relic lives on in Sin City. Thanks to its subsidies, Las Vegas can run air conditioners and neon lights much cheaper than say in Minneapolis.<br /><br />If the people of Las Vegas had to pay the true cost of living in a desert, most would have smaller homes, located closer to business, and with much different lawns, or live some place else.bevonoreply@blogger.com