May 24, 2018 Dear Ms. Sharf:
Re: Forbes May 14th, 2018 – Most Overvalued Housing Market Please pause to consider some important alternate facts. Firstly, the Las Vegas unemployment is way down, not up. Secondly, our housing market is healthy again having rebounded strongly from the lows in 2009-10. Contrary to Fitch’s assertion, we see the current local market fundamentals as far different from those of the recent boom-bust. Today’s positive economics are based on conventional and sustainable val... read more
Currently, there is some debate as to the sustainability of home prices in Las Vegas and other areas. Strong price increases alone do not indicate overpricing. Instead, we have to look at the market as a composite of events, including rents, potential drivers of employment and importantly, supply.
We took a look at some fundamental measures of values, prices relative to rents and prices relative to incomes. Prices and rents have been rising meaningfully in the last couple of years, however, prices have been outrunn... read more
Improving local fundamentals, which include job growth, population growth and strong visitor volume, is helping to cause effective demand for housing in Southern Nevada. Additionally, the market remains a key destination for retirees and snowbirds.
Las Vegas has gone from boom to bust to something that looks more like normalization. Demand factors like employment are back above pre-recession highs and population is about 2.25 Million, implying a demand for at least 830,000 housing units and likely more. Ho... read more
Tenacity, innovation and growth characterized the Las Vegas Valley in 2017. Already world famous for entertainment, other sectors also garnished interest. Las Vegas based Switch, a leading technology infrastructure company, had the second largest initial public offering within the technology sector in 2017. Virgin Hyperloop, formerly Hyperloop One, has been having successes at its test track in North Las Vegas, sending a magnetically levitated pod to 240 miles per hour. A 152,000 square feet office buil... read more
Here at Coldwell Banker Premier Realty, we have been Golden Knights fans from day one, so you can imagine our excitement when last night, the Golden Knights became the first expansion team to make the playoffs since the league expanded in 1979! Today the office is buzzing with stories and highlights from last night's game whether it was watched at T-Mobile arena, or in the comfort of our homes. The Golden Knights Season started around the tragedy of the October first mass shooting, and had a major impact on bringin... read more