The decline in Las Vegas: 11% brick collapse
Las Vegas, the pearl in Nevada. The city of perdition, of casinos and without limits. After falling property prices in previous years, it was expected an increase in demand, obviously proportioned to the wider possibility of buying a flat in Las Vegas.
Despite this stabilization, however, it seems that the real estate market is struggling to grow.
The value of the real estate seems to have faded, causing a stall in all of Nevada.
Even the number of available houses seems to be much lower compared to what would be defined as a market in perfect balance.
Although house prices seemed to have increased in 2012, they still did not reach their historical high.
Too many tourists but few investors. Condos and townhomes a year ago accounted for 110% of national turnover. Today the percentage of real estate sold remains at 7%.
The value of real estate transactions drawn, in 2017 reached 750 million for homes, and 90 million for condominiums. Here the decline was less evident, thanks to the numerous students who signed rental contracts during the last year to study, or simply spend a period away from the daily routine by visiting Nevada.
But you know, leases, do not bring great wealth and, above all, do not allow a quick recirculation of the economy.
In the summer, a flattening was reported not only on the demand side, but also on the supply side, and this provoked amazement among scholars and fear among economists.
An important part of the national market is suffering a severe blow.
A fundamental problem is represented by the submerged.
There are many apartments rented in black, which escape the count of national GDP, causing an alteration of statistical surveys.
What is expected?
It is hoped that, again for the famous '' spiral '' principle, the historical minimum is touching to have in the following years a surge such as to guarantee a rapprochement with that balance so coveted.
Despite this stabilization, however, it seems that the real estate market is struggling to grow.
The value of the real estate seems to have faded, causing a stall in all of Nevada.
Even the number of available houses seems to be much lower compared to what would be defined as a market in perfect balance.
Although house prices seemed to have increased in 2012, they still did not reach their historical high.
Too many tourists but few investors. Condos and townhomes a year ago accounted for 110% of national turnover. Today the percentage of real estate sold remains at 7%.
The value of real estate transactions drawn, in 2017 reached 750 million for homes, and 90 million for condominiums. Here the decline was less evident, thanks to the numerous students who signed rental contracts during the last year to study, or simply spend a period away from the daily routine by visiting Nevada.
But you know, leases, do not bring great wealth and, above all, do not allow a quick recirculation of the economy.
In the summer, a flattening was reported not only on the demand side, but also on the supply side, and this provoked amazement among scholars and fear among economists.
An important part of the national market is suffering a severe blow.
A fundamental problem is represented by the submerged.
There are many apartments rented in black, which escape the count of national GDP, causing an alteration of statistical surveys.
What is expected?
It is hoped that, again for the famous '' spiral '' principle, the historical minimum is touching to have in the following years a surge such as to guarantee a rapprochement with that balance so coveted.
