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Old 02-22-2010, 10:56 AM
 
95 posts, read 251,316 times
Reputation: 27
Default positive outlook yet?

Just wondering if there are any signs of building (construction) yet? I'm in the building industry & had to leave in '08 after spending my whole life in Las Vegas. We couldn't hold out anymore. I know things continued to get worse after we left- foreclosures, average home prices, etc. I know that the over abundance of homes must be bought up for the most part and that banks just need to start lending at least a little bit again. People seem to be thinking that by later this year (2010) things might be on the uptick again. Just wondering what the perception is for people still living there now & who might be long time Southern Nevada residents. Thanks in advance...
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Old 02-22-2010, 09:59 PM
 
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There are new homes being built on lots that have been vacant. Home builders are showing small signs of life. Commercial building is very slow, plenty of vacant retail space and industrial complex are currently vacant.
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Old 02-22-2010, 10:30 PM
 
Location: NW Las Vegas - Lone Mountain
15,758 posts, read 19,256,892 times
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At least another year. The body shows signs of life but they are still faint.
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Old 02-23-2010, 12:20 AM
 
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It will be boom and bust as always. The inventory on both sides will convince builders to stay away but then eventually it will start absorbing fast and there will be a shortage with appreciation. That will draw in too much capacity and they can do the whole merry go round again. So don't expect anything positive for at least a few years, but once you do hear about it chances are you will be late to the best part of the party.
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Old 02-23-2010, 08:24 AM
 
Location: North Las Vegas
1,509 posts, read 2,128,907 times
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National employment law project estimates 6,681 Nevadans will exhaust their benefits without additional extensions by Congress if congress doesn't pass an extenison . Nevada's unemployment rate in December climbed to a near-record 13 percent with an estimated 176,000 persons jobless.

Despite gains in the gross domestic product, corporate profits and business investments, more than half the economists surveyed said job losses are not expected to be “fully reversed” until 2012.A third of the 40 economists polled said job losses wouldn’t be reversed until 2013, and 5 percent said it would take even longer. Only three percent of the polled economists think the jobless rate will return to precession levels before 2012.

Since tourism and hospitality, are core components of Las Vegas’ economy,economist say the recession “has shaken the confidence of everybody.”Employers will be “conservative and cautious as long as they have to be,” and that especially means construction you should check with the local carpentors union as well, I have been told they are telling people not to come to Vegas for jobs right now.
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