Las Vegas is building again. Casinos and houses. With a report from Movoto stating that the Las Vegas real estate inventory increased by 91% year-over-year, it’s not that much of a surprise to local folks.
“They are doing it all over again,” one Henderson, NV resident exclaimed. She is referencing the fact that they are building new homes again, making it difficult for existing residents to sell their property. If they aren’t careful, they will find themselves on the highest foreclosure rate list again if they don’t create enough jobs to match the inventory.
Relying on investors to purchase real estate and then rent out properties to transients isn’t the way to go.