A series of policy blunders at the peak of the boom and during the bust have put the City of North Las Vegas on the verge of bankruptcy. So why change now?
North Las Vegas is moving forward with a controversial plan to partner with a private company and use the city’s power of eminent domain to help underwater homeowners refinance their mortgages.
Another feel-good program that will put the City at even greater risk, may help a sliver of underwater homeowners (less than 10% of underwater homeowners would even be eligible) and could potentially cause significant and lasting harm to the real estate market in the City. At least they’re consistent.
