In The News: Lied Center for Real Estate
In most presidential election years, home prices aren’t a key issue for voters or a major campaign talking point. Consider it another way in which the 2024 election is anything but typical. With mortgage rates up and home prices out of reach for many first-time buyers, the affordability crisis is increasingly in the spotlight as campaign season heats up.
Condo and townhome prices in Southern Nevada reached an all-time high in April 2024. Single-family homes have priced many out of the market as well. Experts said the cost is driven up by a myriad of things including low inventory and cash investors.
Nevada Democrats and Republicans are playing a game of tug of war when it comes to the housing crisis, arguing who is to blame for the high costs of housing — and whose ideas would fix the problem.
Confusion, chaos and misinformation are spreading like wildfire throughout the real estate world as the industry grapples with the potential fallout of a settlement concerning the National Association of Realtors and agent commissions.
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.
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.
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 51ԹϺ. 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.
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.
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.
At least six Nevada legislators who own rental properties voted against bills affecting rentals — from capping rent increases for seniors to increasing transparency on rental leases — prompting concerns about special interests’ influence on government.