Las Vegas Links
June 22nd, 2008Here are a few LV links on the housing market, unemployment and Coyote Springs.
Coyote Springs is a development 60 miles north of LV that was considered a “sure thing” for LV employees looking for less expensive housing. I pointed out last year that this subdivision was 40 miles closer to LV than Golden Valley, in the same state for simpler tax purposes and on a road (I15) with faster speed limits. I thought this had a much better chance of being a “bedroom community” for LV than Golden Valley. I was mocked by all the local speculators and realtors for not being very smart. Coyote Springs was supposed to have 150,000 houses and be a “planned development”. Now they don’t intend to even start building until late 2009. I thought even 60 miles to commute was out of line, let alone 105. Seems that gas prices are making this irrational commute even less appealing. Even in California, very few people commute those distances every day. The idea that LV workers are going to commute to Golden Valley every day is just ridiculous, regardless of what the speculators and realtors say.
Expensive commuting not holding the charm
Gas price spike could bode ill for an outlying place like Coyote Springs
http://www.lasvegassun.com/news/2008/jun/19/expensive-commuting-not-holding-charm/
Local existing-home sales surge
Resales pass 2,600 units for first month since March ‘07; new-home sales stall
http://www.lvrj.com/business/20557609.html?numComments=44
ECONOMY: State’s jobless rate at 14-year high
Construction, casinos see Southern Nevada job bases dwindle
http://www.lvrj.com/business/20625594.html
Nevada’s unemployment rate surges to 6.2 percent
http://www.lvrj.com/breaking_news/20603459.html
The Las Vegas Economy: How Is Sin City Coping?
http://www.gambling911.com/Las-Vegas-Economy-062008.html
A few older links:
No neighbors, no neighborhood
http://www.lasvegassun.com/news/2008/may/21/no-neighbors-no-neighborhood/
DEVELOPMENT: LV land prices rise in quarter
Excluding sales around Strip area, average price was $939,400 in 2007’s final three months
http://www.lvrj.com/business/15760492.html
REAL ESTATE: Down, down, down
56 of 61 Las Vegas Valley ZIP codes show falling home values
http://www.lvrj.com/business/15918837.html
