Housing slowdown creating 'ghost towns'

This article is one of voting members of the Fed talking about how some cities are slowing becoming McMansion ghost towns... so far in Las Vegas and Phoenix. Remember that Las Vegas at one point was selling 40% of homes to non-resident speculators... or something like that.

Yellen said that she heard the ominous description from a "major home builder," who told her that the share of unsold homes in some subdivisions around the two Western cities has topped 80%.