Ghost Towns

How about this article?

• New 'Ghost Towns' Sprout Up in Las Vegas
  
  There are more signs this week that the Las Vegas housing market is cooling down. In September, the median price for a home was $285,000. That's exactly the same as it was one year ago.
  
  And experts say there's been a 21.5-percent decline in new home building permits in the past year. The number of new permits requests in September was the lowest since December 2001.
  
  The housing market slow down is bringing back a wild, Wild West staple, the ghost town.
  
  There are valley neighborhoods where vacant homes seem to outnumber the homes where people are living.

The article then continues by saying "The problem is buyers aren't buying". So houses are built but buyers aren't buying.

• The trend is there's a supply that exceeds the demand and it's Economics 101. When the supply exceeds the demand, a couple of things happen. Prices are starting to come down and we just have more inventory than we have buyers right now," Love explains.
  
  This is creating "ghost town" neighborhoods that can be found all across the valley where vacant homes out number the occupied ones.
  
  Love has sold houses in Las Vegas market for 20 years and says one thing that's added to this trend is the buyer's mentality.
  
  "They're not buying. They're sitting on the sidelines. These investors that own all these vacant properties they can't sell are turning to rental markets. So they're renting them out at actual rents that are much less than what these people would pay if they were owning them."
  
  It seems the only way to get rid of these ghost towns and breathe life into neighborhoods across the valley is to cater to the potential homebuyer.
  
  Right now there are about 22,000 existing homes on the market across the valley and 9,800 of them are vacant.

9800 out of 22000!!!

WOW!!!