See that picture at left?
Well, if all the women were topless and wearing thongs, that is what it would look like to walk down a Downtown Las Vegas street.
At least I thought that would be the case when I moved here.
DAMN PRECONCEIVED NOTIONS!
Anyway, the Las Vegas Valley now has (almost) 2 Million people, and the growth shows no signs of relenting.
Any why would it? This is the greatest city in the world. People would be crazy not to move here. As a matter of fact, if you are reading this from anywhere other than Las Vegas, I submit that you are insane. I dare you to find a Pussycat Dolls Gambling Pit in Pittsburgh.
It is nice to see the real estate speculators getting spanked, though. It’s not cool to price actual residents out of their own market, and here is hoping that their foreclosure is bona-fide resident’s affordable home.
More residents than ever. More visitors than ever. More revenue than ever.
Las Vegas … if you’re not here … you’re camping out.
The population of the Las Vegas area grew 5.3 percent from a year ago to 1.91 million in 2006, while the median household income rose 12.2 percent to $53,100, according to an annual comprehensive profile of southern Nevada released Tuesday.
The Clark County population grew by 97,000 people, or about 8,000 a month, according to the 2007 Las Vegas Perspective booklet, compiled by the Center for Business and Economic Research at the University of Nevada, Las Vegas.
But as evidence of an overheated housing market, total home sales fell 26.7 percent to 71,500 and residential building permits fell 13.3 percent to 33,900.
The median price for new homes rose 9.5 percent to $339,500, and the median price for existing homes was up 0.5 percent to $286,500. Average apartment rents increased 5.3 percent to $852 a month.
“The residential market continued to seek out a new equilibrium as resale home inventory levels rose rapidly and the rate of demand (sales) was off the feverish pace reported in 2004 and 2005,” said researchers from Applied Analysis, which contributed to the survey.
Jeremy Aguero, principal of Applied Analysis, said the rising number of homes for sale and the surge in foreclosures was “merely the market correcting itself from an aggressive nature that we had during some of the past couple of years.”
“The 18 months it took us to get into this problem it will take us to get out of this problem,” he said.
The Las Vegas area created 47,000 new jobs in 2006, with employment up 5.7 percent to 875,000. The unemployment rate held steady at 4 percent.
The number of visitors to the area grew 0.9 percent to 38.9 million, while gross gambling revenues in the county grew 9.5 percent to $10.6 billion.