Since 2008, the United States has witnessed an economic downturn that has had a marked impact on the lives of the citizens across the country, and especially in the Las Vegas, Nevada, community. The southern Nevada region has been severely impacted by this crisis, and by December 2008, the region had the third highest rate of foreclosures in the nation. Property prices dropped by 41 percent, and the impact on the construction industry was severe. The unemployment rate was approaching 10 percent by the end of 2008 and continued to grow in 2009. Major casino resort corporations shelved large projects and still face severe financial concerns.