Real Estate

Housing didn’t keep up with Las Vegas growth for a decade

During the decade following the Great Recession, housing in Clark County grew by 12.0%, while the population increased by 16.1%, leading to an affordable housing crisis. Despite a surge in construction, housing prices soared, making it difficult for many to afford homes. President Biden proposed programs to address the issue, including tax credits and incentives for first-time homebuyers. Continue...

Multifamily Commercial Real Estate

Multifamily dwellings are prevalent in Nevada due to various factors like job growth and lifestyle preferences. Rental prices rose during the pandemic but are now stabilizing. Affordable housing initiatives are on the rise, and Nevada is considered investment-friendly for landlords. Numerous multifamily projects are in the pipeline, catering to both market-rate and affordable housing...

1 in 10 homebuyers tap retirement accounts for down payments

One in 10 homebuyers use retirement accounts for down payments, which financial planners say can be a reasonable option if done as a loan. The IRS sets limits to protect savings, and while it affects long-term growth, it can make sense for those prioritizing homeownership. Younger buyers are more likely to use this option, but it's advised to explore other options first. Continue to full...

Mortgage rates rise toward 7% after declining for prior 2 weeks

Mortgage rates are rising, with the average rate for a 30-year fixed mortgage reaching 6.87%. Economists predict rates will stay high for a while, impacting the housing market. Fannie Mae expects rates to remain above 6% for the next two years. Home prices are high due to a shortage of inventory. Continue to full article...

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