Las Vegas Ranks #4 in Annual
Report by BusinessWeek
Interesting article about a survey of America’s Most and Least Favorite Cities to Live and Work by BusinessWeek Magazine that you can read by Clicking Here.
Did Las Vegas move up in this year’s rankings because of high real estate prices, out of state Las Vegas Real Estate speculators, Glamorous high rise Las Vegas Condominiums or because Las Vegas is supposedly running out of land?
According to BusinessWeek it was because of:
Las Vegas moved up the list this year, partly because—with home prices plunging—it has become more affordable to live here.
Vegas’ top attributes, according to the survey, are the entertainment options, affordability, and environment (climate, parks, natural features). The city’s best attribute was its entertainment options, which 56% of respondents cited, followed by affordability, which half of workers cited.
Ask anybody (myself included) why they moved to Las Vegas in the 1990′s and it was because of affordable and well thought out real estate developments and cheap entertainment. There is always something to do and before Las Vegas lost it’s roots during the housing bubble of what really made Las Vegas a desirable city, it was always cheaper to go out to eat then it was to stay home and cook.
So… while some people who just never got Las Vegas to begin with think lower Las Vegas real estate prices and a slow down in business is all gloom and doom… I see signs of Great things taking place all around me.
Not being Married to a Mortgage on an overpriced home caused by Las Vegas real estate speculators and snake oil salespeople.. And Enjoying a nice 16 Oz. T-Bone with all the complements while watching The Fiesta Bowl for $10 in one of my secret Summerlin places (One Beer Included) gives me plenty of signs of good things currently taking place in Las Vegas.
Ask anybody who moved to Las Vegas before 1999 and more then likely they’ll tell you that they wish 2003 through 2006 never would have happened.
For Las Vegas businesses that get it and will make the changes to adapt to the global recession taking shape… they’ll be just fine…. and so will the people who understand what and why it’s happening.
Paul Francis, CRS
Las Vegas Real Estate
702.592.3058
January 7, 2009 at 3:53 pm
You have hit the target. Very good blog. But I can’t say I wish 2003-2006 never happened because we added City Center, and 7-8 major casinos in the same period that will help our future here.
I agree that Las Vegas has to become a value destination again in order to prosper.
January 7, 2009 at 5:23 pm
Thanks Masoud,
I should have clarified that what the time period of 2003 through 2006 created in terms of community is what no long term residents of Las Vegas really desired.
Cookie cutter subdivisions with no thought but on how to squeeze as many homes on a plat of land as possible, high real estate prices for those who really needed to buy to live in Las Vegas, Higher prices for entertainment… etc..etc..
Yes.. we certainly added some very high quality casinos with the amazing City Center project coming soon that will benefit our future… but there are plenty of things that were added that are highly questionable in creating any community value to be polite.
January 12, 2009 at 12:11 pm
That’s good news to hear! I am not sad about gas prices coming down or other prices falling too much either, though ours have not been very drastic. The main big concern with out local economy are the potential layoffs and lack of businesses coming into town – but for many there’s finally some breathing room to actually go out and do things again.
January 12, 2009 at 12:30 pm
Thanks for stopping by Chelle,
Watch out for the gas prices… soon to go back up with recent developments taking place that have not been breaking news headlines due to all of the other headlines taking place.