Bad Bet on Housing Imperils North Las Vegas

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June 8 (Bloomberg) -- Tim Hacker, city manager of North Las Vegas, Nevada, Jeff Hurley, president of North Las Vegas Firefighters Local 1607, and Joseph North, a 29-year Las Vegas valley resident, talk about the economy of the city and its municipal budget deficit. The once-burgeoning city had a foreclosure rate of 1 in every 216 homes in April, according to RealtyTrac. Elected leaders have given the city manager unprecedented emergency powers to suspend union contracts to close the $33 million budget gap. (Source: Bloomberg)

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