I have often used Las Vegas and Orlando as premiere examples of American consumption.

As Jim Kunstler predicted, many of the areas that did best on the upside of Hubbert's Peak will most likely do the worst on the downside.

The most amazing statistic I have seen lately is that one out of every thirty homes in Clark County, Nevada--where Las Vegas is located--is in foreclosure proceedings.

"Cut thy spending and get thee to the non-discretionary side of the economy."

Orlando's situation is not the best, and continued suburban growth could be it's death. But we have many more natural resources (i.e. water) than Las Vegas and I think we're starting to denisify around the urban core. I see more and more bikes and scooters.

Not near as many foreclosures here as on the coast either.

From the Housing Bubble Blog ("They were simply living beyond their means"):

The Manteca Bulletin reports from California. “It is a tidy, sharp looking home. The Mossdale neighborhood west of Interstate 5 is clean and desirable. It has more than 2,200 square feet of bright living space and is less than two years old. If you had bought it 15 months ago you would have paid in excess of $600,000.”

“Now that home bought with 100 percent financing is in foreclosure. The lender is willing to take $379,900.”

“‘People going into foreclosure today aren’t losing their jobs nor did they have income reduced,’ noted Steve Roland of the Real Estate Group. ‘They were simply living beyond their means.’”

“Carol Bragan, another Realtor with extensive knowledge of the Manteca market, doesn’t mince words. ‘It’s scary,’ she said.”