So long as homeowners could pay for vacations with some of the proceeds of their home refinancings , all was well . Nevada senator says his state is ` ` nowhere close to a normal economy '' David Frum : The state made a big bet on the lavish ##ness of Las Vegas . Since the recession , profits at the casino have fallen off , hurting job market , he says . Frum : Families that benefit from refinancing their mortgages have had to cut back .
Nevada senator says his state is ` ` nowhere close to a normal economy '' David Frum : The state made a big bet on the lavish ##ness of Las Vegas . Since the recession , profits at the casino have fallen off , hurting job market , he says . Frum : Families that benefit from refinancing their mortgages have had to cut back .