In The News: Department of Economics
When the deadly coronavirus became a global pandemic in March 2020, indoor public spaces were shuttered and stay-at-home orders were issued to ensure health and safety. In a flash, Nevada saw its leisure and hospitality lifeblood quickly cut off.
When the deadly coronavirus became a global pandemic in March 2020, indoor public spaces were shuttered and stay-at-home orders were issued to ensure health and safety. In a flash, Nevada saw its leisure and hospitality lifeblood quickly cut off.
ҳ| 鶹ýӳ three years ago, as the Las Vegas Convention and Visitors Authority made a bid to host the city’s first Super Bowl—now just days away—it commissioned local analytics firm Applied Analysis to create an economic impact statement on the event.
Consumer advocates argue that hotels use resort fees to make room prices appear lower in initial searches and prevent consumers from accurately comparing prices.
The teams are set, the game is scheduled, and the total tab to see the first Super Bowl in Las Vegas is stacking up to be the most expensive in NFL history.
Las Vegas is gearing up to score a royal flush of sports franchises — by bringing basketball to Sin City.
The housing market in Las Vegas just saw its lowest year in sales since the crash in 2007. That may be confusing to some who are feeling the effects of our growing population and seeing new housing developments creep into the desert. It's hard to tell if it's the right time for a move or not, whether you are from out of state or a longtime Vegas resident. Professor Nicholas Irwin teaches real estate and economics at UNLV. He explains to co-host Dayvid Figler what to look out for in the everchanging Las Vegas housing market, how renters and corporate buyers fit into the equation, and tells us if now is the right time to buy a house.
The economy will be one of the main issues in the 2024 Presidential Election. Americans are concerned about the cost of food, fuel, and housing, among other things.
Wall Street-backed hedge funds, corporate landlords and cash rich investors have been buying up single-family homes across the country as far back as 2009, which experts say means fewer houses on the market for families to purchase. That also could lead to higher rental prices and fewer affordable homes in regions like the Las Vegas Valley. A MetLife Investment Management study shows these companies could own close to 40 percent of all U.S. houses by 2030.
The word of the year when it comes to Las Vegas real estate has to be “inflation.” High interest rates — not seen since the beginning of the Great Recession in 2008 — were brought in by the Federal Reserve last year to stem runaway inflation, brought on by pandemic restrictions wreaking absolute havoc on the global economy. This put a serious damper on the national housing market, and Las Vegas was not immune to the pain.
The focus of the Nevada gaming industry today will be whether the state shattered the all-time November revenue record of $1.32 billion, thanks to the Las Vegas Grand Prix.
All eyes will be on the Federal Reserve in gauging where Las Vegas Valley’s real estate market could head next year, area real estate agents said.