In The News: Lee Business School

Las Vegas is facing a housing reality many families here are feeling firsthand. A new report from ÐÔÊӽ紫ý's Lied Center for Real Estate that shows investors have bought up nearly 100,000 single-family homes across the valley — about one in every five homes sold over the past 15 years.

As Las Vegas’ economy goes, so goes Nevada’s. It’s simple mathematics because of the region’s size, accounting for 70% of the state’s population and a similar amount of its gaming and tourism business. And the math doesn’t look good.
Las Vegas is having a rough year, with "practically every conceivable indicator tracking tourism ... flashing warning signs," writes Luke Winkie at Slate. Well, except for one indicator. Casino revenues keep rising, suggesting the city is making more money from fewer people. Winkie sets out to understand what's going on by visiting the city, playing at its tables, and talking to experts and tourists alike.

Film tax credits and other priorities of Gov. Joe Lombardo were supposed to be the highlights of the Nevada Legislature’s special session in November. But legislators stole the spotlight (at least temporarily) when, for the first time in Nevada history, they added a bill to Lombardo’s session agenda seeking to limit corporate homebuying in the Silver State.
If timing matters for your budget, there are certain gift categories that show more reliable chances for last-minute price drops, according to ChatGPT. Retailers use dynamic pricing during the holidays, meaning prices can move up or down based on demand and inventory levels. It’s a pricing strategy that can make waiting until the final week before Christmas worthwhile for some purchases. Here are a few ways to take advantage if you still have some last-minute shopping to do.

The holiday season is upon us, and shoppers are in the homestretch of their search for gifts. But what role will the economy, dynamic pricing, and shrinkflation play in consumers’ ability — or even interest — to cross items off their wish lists?

Since the wake of the 2008 Great Recession, investors have purchased close to half a million houses in the valley and a recent ÐÔÊӽ紫ý study found they could own approximately 15 percent or more of the valley’s housing stock, and 25 percent in North Las Vegas alone. The two largest property owners in the county are Wall Street-backed companies, and there has been a growing chorus from local politicians to stem their ownership stake locally.

Southern Nevada’s jobless rate was again one of the highest in the country for large metro areas, new data shows. The Las Vegas-area’s unemployment rate in September, 5.7 percent, was third highest among the 50-plus metro areas with at least 1 million people, according to the U.S. Bureau of Labor Statistics.

For years, Nevada has ranked near the bottom of all states in unemployment rate — and there are few signs of that changing. Since the start of 2022, the Silver State’s unemployment rate has never exceeded 5.8 percent or fallen below 5 percent, marks that are well behind most other states. According to the latest federal unemployment data, 45 states had unemployment rates under 5 percent. But is there significant cause of concern? Or is the stagnant rate expected? According to experts who spoke with The Nevada Independent, it’s a mixed bag.

Station Casinos has officially opened a new high-limit room and parking garage at its Durango location, marking the latest phase of a $100 million expansion. The new garage offers 1,800 free parking spots, allowing patrons easier access to the expanded gaming floor.

As e-scooters and e-bikes have become more popular around the Las Vegas Valley and across the country, the increase in ridership has also helped lead to some grim statistics.

November through January is typically the biggest time of the year we see scams. Often, scammers are using the method of ‘pulling on the heart strings.’ Scams fall into a lot of variety; some are low-key tech – which can be a simple go-fund-me.