In The News: Lied Center for Real Estate
The number of old buildings in Clark County is going to dramatically increase over the next decade, according to a new study.
The anaconda snake wraps its body around its prey, preventing it from moving freely before squeezing it to death. When it comes to land, the federal government is doing something similar in Clark County. As a percentage, Washington owns more of Nevada than any other state, and it’s not close. The feds control more than 80 percent of Nevada’s land, more than 56 million acres. In Utah, the next highest, it’s around 63 percent.
Housing in Las Vegas has become increasingly unaffordable over the past two decades, according to Prof. Nicholas Irwin, research director at the ÐÔÊӽ紫ý Lied Center for Real Estate.
The federal government has increased its control of land in Nevada since the passage of a law in 1998 that was specifically designed to direct the Bureau of Land Management to offload acreage to the private sector, said a consultant who formerly worked for the BLM.
A recent study by the ÐÔÊӽ紫ý Lied Center for Real Estate reveals that prospective homebuyers in Las Vegas need to earn $119,000 annually to afford a median-priced home, estimated at around $400,000.
A recent study by the ÐÔÊӽ紫ý Lied Center for Real Estate reveals that prospective homebuyers in Las Vegas need to earn $119,000 annually to afford a median-priced home, estimated at around $400,000.
A new study from ÐÔÊӽ紫ý’s Lied Center for Real Estate offered some details on high housing costs. It found that buyers needed to make more than $57 an hour to afford the monthly payment on a median-priced home. Households with two income earners need each individual to make an average of $28.61 an hour. Little wonder that so many young professionals and newly married couples feel like homeownership is a fantasy. A continued lack of affordable housing will hurt economic growth.
A Las Vegas Valley worker has to make at least $57.22 an hour to afford a mortgage payment right now, according to a new study by ÐÔÊӽ紫ý’s Lied Center for Real Estate.
As housing prices soar, many are turning to affordable alternatives like tiny homes, RVs, and mobile homes. ÐÔÊӽ紫ý Professor Nicholas Irwin, Research Director at the Lied Center for Real Estate, highlighted the changing standards in housing.
While manufactured homes can be of high quality, they tend to depreciate faster than traditionally built homes.
TJ Modi, founder and CEO of American Tiny Homes Community, is bringing his vision of affordable tiny home living to Southern Nevada. The new community, located off North Las Vegas Boulevard, is set to open next month and will feature colorful Boxabl homes, a product of the Las Vegas-based manufacturer.
Notices of default issued to property owners across the Las Vegas Valley jumped 28% year-over-year, signaling growing distress in the housing market, according to a summer report from ÐÔÊӽ紫ý’s Lied Center for Real Estate. The significant increase points to more homeowners struggling to meet their mortgage obligations.