By Hubble Smith – Las Vegas Business Press The industrial real estate recession continues to move sideways in Las Vegas, with 16.2 percent vacancy in the fourth quarter, John Restrepo of RCG Economics said. It will take at least three years before the industrial market returns to a stabilized vacancy rate of 10 percent, based… Read more »
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By Hubble Smith – LAS VEGAS REVIEW-JOURNAL Las Vegas saw more than $120 million in commercial loans go into default in November, including the Rainbow Promenade shopping center at 2051 N. Rainbow Blvd., according to a report from Nevada Title Co. JP Morgan is the original beneficiary of the $37.9 million loan. Borrowers are struggling… Read more »
By DAVID McGRATH SCHWARTZ Las Vegas Sun Foreclosures in Nevada could spike next year if lawmakers and banks roll back a bill passed in 2011 that played a large role in stymieing banks’ attempts to retake homes from Nevadans, according to the state’s banking association president and housing analysts. READ THE ARTICLE.
By Steve Green – VegasInc The already-struggling Las Vegas economy could face more problems if the United States slips into a recession next year, local analysts say. On Wednesday, the nonpartisan Congressional Budget Office warned that a “fiscal cliff” threatens to cause a recession that would push the U.S. unemployment rate up from 8.3 percent to… Read more »
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The Distribution Industry in Nevada by Jessica Santina – Nevada Business That big-box warehouse down the street may not be the prettiest feature of the Nevada landscape surrounding you, but next time you’re driving past it, consider this: It, and other facilities like it, might just save the state’s struggling economy. Nevada is poised to… Read more »
By John Restrepo – Special to the Las Vegas Review-Journal I have watched the North Las Vegas economy deteriorate over the past five years to a point that now warrants emergency action, and I have also reviewed firsthand the cities finances as a volunteer member of its 2010 Strategic Budget Priorities Process Committe. The fact is… Read more »
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By Conor Shine – VEGAS INC. A year ago this month, a team of developers from Southern California came to Henderson City Hall and unveiled an ambitious $1.5 billion plan for a medical, retail and housing development near U.S. 95 and Galleria Drive. The proposed complex, named Union Village, had been in development for over… Read more »
By Hubble Smith LAS VEGAS REVIEW-JOURNAL The battered new-home segment is coming back slightly in Las Vegas as resale inventory tightens and prospective buyers find themselves competing against multiple offers from cash investors, housing analyst Dennis Smith said Friday. READ FULL ARTICLE.