In The News: Lee Business School
As houses continue to burn in Los Angeles, officials have already started talking about rebuilding the city. “We’re going to rebuild this remarkable community and we’re going to come back,” California governor Gavin Newsom said in a call with President Biden on January 10. Los Angeles mayor Karen Bass added her own call for action. “We’re going to recover, and we’re going to rebuild and we’re going to rebuild better.”
Wildfires continue to devastate Southern California, with the Los Angeles Times reporting today that a “particularly dangerous situation” warning is once again in effect for areas of Los Angeles and Ventura counties. At least 25 people have died.
As wildfires continue to devastate Los Angeles, many Las Vegas locals wonder, could this tragedy impact us here in the valley?
People are increasingly moving into the wildland-urban interface areas, where human development meets wild vegetation, like forests, according to a University of Nevada-Las Vegas expert. Such landscapes are also notorious for wildfires.
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As the battle against several Southern California wildfires continues to rage on, one expert told me the impact could be seen far outside the fire path, and even here in our valley.
The Los Angeles wildfires will most likely put pressure on the Las Vegas Valley’s already tight housing market, an expert says.
Thousands of people have been displaced by Los Angeles area fires and 51ԹϺ economist Nicholas Irwin said it’s likely for people to seek refuge here in the Las Vegas valley.
The fires in Southern California have burned in largely urban areas, which could have an impact on how home insurers work.
A fuel pipeline from California to Nevada was expected to restart operations Friday, lessening the threat of a supply problem across the Las Vegas valley, a county spokesperson said late Thursday.
Forecasters estimate the damage to Los Angeles has surpassed $50 billion. For more on the wildfire impacts to the housing market, KCBS Radio news anchor Steve Scott spoke with Prof. Nicholas Irwin, Economics Professor at the University of Nevada, Las Vegas.
Sean Karaman, a freshman at the University of Nevada, Las Vegas, hadn’t always paid close attention to his credit card spending. But after taking a personal finance course on campus last fall, he said, he is much more likely to pay as he goes.
