Las Vegas Housing
Slides from Tim Sullivan's presentation at Dennis Smith's Home Builders Research conference paint an interesting picture of the housing market. Nationwide, builders are pulling the same number of permits they were in 1993, yet there are 63.2 million more people. The home market is still highly sensitive to interest rates. Employment/building permits is an interesting ratio that for the moment looks good, but could flip in a hurry. Unfortunately, Affordability in Las Vegas is decreasing fast at the same time upper income people are leaving.