Las Vegas continues to show signs of growth even in a turbulent real estate economy. If anyone were to ask, “where is a great place to live, work, play and buy a home?” My answer would still be LAS VEGAS. Why, you ask? Because Las Vegas has strong job growth and housing prices have decreased to the point where the working class resident of Las Vegas can afford them again.
Job Growth is a key ingredient to any thriving real estate market and Nevada has been one of the leading states for job growth and employment. People must have a place to work if they are going to need a place to live.
The proof is in the pudding… Nevada is once again the nation’s fastest growing state according the US Census Bureau just released covering periods July 2006 to July 2007. Our state’s population grew by 2.9% over this period. In fact Clark County reached its 2 Millionth resident sometime this year. We’ve doubled in size since we reached 1 million in 1997 and quadrupled in size since 1981. "Nineteen of the last 20 years we were the fastest growing place, and Nevada was the fastest growing state, in the country," Keith Schwer said, the head of UNLV's Center for Business and Economic Research. Our county sees anywhere from 4,700 to 6,000 residents move here and stay every month. There is a great demand for workforce in the valley.
Just to mention some of the most notable projects expected to release throughout 2008, 2009, 2010, and 2011...
- MGM’s massive 76 acre “City Center”
- Steve Wynn’s 2,034 room hotel called “Encore” - Project next to the existing “Wynn” tower
- the 3,068 Room called “The Palazzo” Hotel - sister tower to the Venetian
- “Trump’s International Tower” to include 1282 rooms as well as his recently announced follow up project of Tower II to have another 1280 rooms
- Boyd Gaming’s “Echelon Place” – the replacement for the Stardust
- The Cosmopolitan Resort & Casino
- The Las Vegas Plaza - a future $5 to $8 billion multi-use ultra-luxury hotel, private residences, retail and gaming complex
- “The Fontainebleau” - a $2.8 billion, 3,889-room, hotel/condo-hotel/casinoAccording to the Las Vegas Review Journal, “
Analysts say that for every new resort hotel room built, the community gains roughly seven new jobs and 14 new residents."
Local officials must constantly stay in tune with the needs facing our ever expansive valley. Not to mention jobs created from the Southern Nevada Water Authority laying pipeline to import ground water and officials scrambling to find enough to cover the $5 Billion needed to construct new freeways.
Casey's top 5 favorite things about Living in Las Vegas and being 30:
- The weather - you can't beat summer pool parties & I can still get away with wearing a dress with high-heels in the winter
- 4 hours drive to good skiing
- 4 and a half hours drive to great beaches
- Beautiful mountains that become snow capped a couple months out of the year; not the mention the great views of the strip at night
- Let's not forget the blatent feature staring us all in the face: it's a MAJOR DESTINATION. Nightlife, stage performances, fantastic shopping, breathtaking buildings and a chance to meet anyone from anywhere.
Sources: US Census Bureau & Las Vegas Review Journal