As Always, the Big Question is,
'What's going on with the Real Estate Market?'
Before we Look ahead to 2020, let's take a look at how we did in 2019.
Or as I joke in saying, 'A 2020 Hind-Site'
For the Year 2019, we had a Median of 6% and an Average of 7 % Equity Growth.
Not Bad... FYI, Condos did even better than that.
In 2018 Equity Growth was around 9% and back in 2017 it was over 12%.
So the Growth has been good but is now slowing down.
Now let's look ahead to 2020
I could write about all the Construction Projects, Casino Resorts
and Conventions feeding our Las Vegas Economy, but we all know about all of that.
But even with all that's going on, I don't see Home Values Going up more than 5-6%
Las Vegas wages will only go up so much, creating an Affordability Ceiling,
which is getting close to being Maxed Out.
What will most likely Push the Market is the Rising Rents.
There have been several articles in the LVRJ about how Large Corporations
are Investing in Apartments because of the High Demand and Profits.
Las Vegas Home Ownership Rate is around 58%
Down from a high of 63% in 2005 but up from the low of 50% after the crash.
These numbers are well below the National Average of 65%
People need to Stop wasting Money Renting and Invest in Their Future.