May 19, 2018 | Las Vegas Review-Journal | Bailey Schulz
One of the starkest differences California native Lydia High noticed when she moved to Las Vegas 15 years ago was in her hiring pool.
Back in Los Angeles, most candidates could easily check off all the required skill sets for her accounting business. Her biggest concern was finding someone who would fit in with the company’s environment.
“It was very difficult to find qualified employees.”
It still is, she said.
High and many other small-business owners in Nevada have hit a wall finding employees with the right skill sets. A 2018 survey by Nevada State Bank and Applied Analysis found more than two-thirds of businesses find it somewhat or very difficult to recruit qualified candidates. The state’s education system and a lack of economic diversification may be at fault, experts say.
May 17, 2018 | KNPR | Casey Morell
There is no question that California is an attractive place to live: beautiful weather, amazing coastline, glamorous jobs.
But because a lot of people want to live in the Golden State, the price of housing has skyrocketed -- pushing many people out. Those that were pushed out are ending up in Nevada, and in Las Vegas in particular.
A recent report by Applied Analysis found 4.9 people on average move to Las Vegas every hour, according to the Las Vegas Review-Journal; of those people, 34 percent are from California.
May 16, 2018 | KNPR | KNPR News Staff
Report: Nevada Population Boom 3X National Average
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May 16, 2018byKNPR News Staff
The population expansion in Nevada over the last year was nearly three times the national average and Las Vegas has the second fastest-growing population rate in any state.
That’s according to Jeremy Aguero with Applied Analysis, who spoke Tuesday at the Las Vegas Global Economic Alliance’s Perspective event.
Aguero said that 4.9 people on average move to Las Vegas every hour.
May 15, 2018 | 13 Action news | Yasmeen Hassan
LAS VEGAS (KTNV) - Over the next three to five years, the Las Vegas Convention and Visitors Authority is anticipating 15,000 new rooms on Las Vegas Boulevard. The Drew, Resorts World, and the MGM Sphere are already in the works. Before more tourists make their way here, Clark County is already preparing.
"In the very short term, we've got a couple things we've done. One, we implemented an increase in the sales tax for law enforcement which covers also The Strip. The money that's generated on The Strip will be spent on The Strip to add more law enforcement officers on The Strip," Clark County Commission Chair Steve Sisolak said.
May 9, 2018 | Las Vegas Review-Journal | Herb Jaffe
The short of it is that the supply of houses for sale in and around Summerlin has been nowhere near meeting the overwhelming demand. As a result, values of homes have been soaring through their roofs.
In a nutshell, property in Summerlin — which, ironically was labeled a desert wasteland as recently as the mid-1950s and which sold then for as little as $2 and $3 an acre — is now among the hottest real estate commodities in the nation. That was what Howard Hughes, the wealthy eccentric of yesteryear, paid the federal government for much of the nearly 25,000 acres we now know as Summerlin.
But according to SalesTraq, the real estate arm of Applied Analysis, the highest median sales prices for homes in the Las Vegas Valley are being recorded in Summerlin. Applied Analysis is a major Nevada economic research and analysis firm.
April 30, 2018 | Las Vegas Sun | Mick Akers
A major boxing match on the first weekend of May has become a tradition in Las Vegas, bringing excitement to Strip’s Cinco de Mayo festivities and helping provide a notable boost to the economy.
But a scheduled bout for May 5 between middleweights Gennady Golovkin and Saul “Canelo” Alvarez was canceled, meaning there won’t be a marquee fight in the boxing capital of the world on arguably the sport’s most important weekend. T-Mobile Arena has no plans to fill the date, according to Scott Ghertner, executive director of public relations for MGM Resorts.
Resorts could feel the effects because fans who booked stays for the fight weekend are likely to cancel their reservations. But because of Cinco de Mayo’s popularity there is some uncertainty to what extent the fight cancelation will affect hotel occupancy and other industry performance metrics, said Jeremy Aguero, lead principal at Applied Analysis.
April 23, 2018 | News 3 LV | Denise Rosch
LAS VEGAS (KSNV) — Renter Marlin Dart has lived in Southern Nevada since he was 6 years old, and he has seen it all.
Dart knows first-hand that the apartment rental business is red hot, but his Green Valley neighborhood, he believes, is worth it.
"Before they were going up about $50 every lease, but the last one jumped $200 on the last lease," says Dart.
According to Applied Analysis, apartment rental rates are up more than 23-percent in the past six years. The average one-bedroom unit is currently averaging $882, and a two-bedroom apartment is $1,066.
April 20, 2018 | Bloomberg | Brenna Goth
Nevada raised taxes, sold bonds and broke ground on a $1.9 billion stadium to bring the Raiders football team to Las Vegas.
But the state’s race for governor could put a new wrinkle in the record-setting $750 million deal for taxpayer funding to build it. At least one candidate says he’ll do everything he can to renegotiate the agreement if he wins—or withhold money for the roads to get to the games.
Public financing for the 65,000-seat stadium is a divisive issue among leading candidates in the June 12 Republican and Democratic primaries. The state’s treasurer, attorney general, and two county commissioners with opposite positions on the project are among the contenders.
March 26, 2018 | Las Vegas Review-Journal | Eli Segall
With its damaged mailbox, peeling stucco, overgrown yards and obscene graffiti on the front and side windows, this North Las Vegas house could easily scare would-be buyers.
But it sold twice last year, with the flipper booking a solid profit — and since the recession, the home’s value has shot up more than fivefold.
February 27, 2018 | Las Vegas Sun | Mick Akers
The Raiders and the Las Vegas Stadium Authority on Thursday are expected to finalize an agreement to construct the proposed $1.9 billion, 65,000-seat domed stadium that will house the NFL franchise beginning in 2020.
All agreements and stadium-related documents are up for possible action and are likely to be approved “in form,” said Jeremy Aguero, principal of Applied Analysis and the lead staff member for the stadium authority.
Barring any unforeseen snags, the agreement will cover the development, lease, personal seat license and the UNLV joint-use agreements, among a bevy of other details.
January 30, 2018 | UNLV | Angela Ramsey
To say that Jeremy Aguero has been in the limelight lately would be an understatement.
“There are tailgates at our public meetings,” says Aguero, who over the past 18 months has been at the epicenter of the UNLV/Raiders stadium deal. As the lead staff for the state’s Las Vegas Stadium Authority, Aguero is working on the negotiations of critical contracts and leasing agreements—details that are not only shaping the stadium project but also the future of Las Vegas.
January 24, 2018 | Las Vegas Review-Journal | Eli Segall
With fewer foreclosures and underwater borrowers in Las Vegas, distressed-home sales fell to the lowest level in years in 2017, according to newly released data.
Foreclosure sales — or homes sold by lenders who had repossessed them — comprised 2 percent of Las Vegas Valley resales last year. That’s down from 4 percent in 2016 and 43 percent in 2011, during the recession, according to figures from Applied Analysis, a local research and consulting firm.
January 12, 2018 | Las Vegas Sun | Thomas Moore
Positive economic news continues through early 2018, furthering a trend from last year’s strong stock market and employment numbers.
Locally, hotels are adding convention space and remodeling rooms, the Fontainebleau and Alon deals generated buzz on the Strip and construction cranes are rising at the Resorts World site.
Southern Nevada recovered from the worst of the Great Recession, outpacing national economic growth in the past couple of years. How long that run can last, though, remains a question for debate among experts.
According to the National Bureau of Economic Research, this recovery, at nine years, is the third-longest in U.S. history. Expansions have lasted on average only a little under five years since 1945.
The Las Vegas Sun asked a number of business experts recently for their opinion of Las Vegas’ economy.
January 12, 2018 | Las Vegas Review-Journal | Eli Segall
Las Vegas home prices are climbing at one of the fastest clips in the country, and sales totals last year reached one of the highest levels ever, despite plunging availability.
But if your house hunt is taking longer than expected, you’re not alone, as sellers are increasingly gun-shy.
The monthly tally of new listings for single-family homes — the bulk of the market — posted year-over-year declines nine times in 2017, according to Greater Las Vegas Association of Realtors data. Overall, 3,800 single-family homes were on the market without offers by year’s end, down 36 percent from the end of 2016.