(Bay Area Home Priced at $1.6m and a luxury home in Las Vegas with the same price)
- How crazy is the Bay Area housing market? This aging house will cost you $1.6 million
- California Is Becoming Unlivable
- California tops the list of states with the most unsheltered homeless people
- Blackouts, Fires, High Gas Prices: Who Wants to Live in California Today?
- California Can Expect Blackouts For A Decade, Says PG&E CEO
- California’s housing market is in crisis. Will Apple’s $2.5 billion help?
- Poll: SoCal residents who say the cost of living here is “unbearable” increases to 59%
- Are California transportation officials pulling a bait and switch on gas tax funds?
- For 7th Year in a Row, More People Left California Than Moved in.
- Wildfire burns in hills above Burbank, California
- California’s Tax-the-Rich Boomerang
- ‘It’s bonkers’: California hits Bucks County (Pennsylvania) Amazon seller with $1.6 million sales tax bill
- California initiative to raise property tax on businesses gains support from L.A. mayor
- Pension costs continue to drive tax hikes across California: Susan Shelley
- California’s ‘Fair Tax’ Hike Spurred Taxpayer Exodus, Hurt Middle Class And Went Mostly To Pensions
The Ripple Effect of California’s Rent Control Laws
If we look at the Cal to Nevada relocation data, it states there were 27,625 relocations and if 10% were high-net-worth individuals, that totals 2,762. In our opinion, there are less than 1,000 residences in the city of Las Vegas that are desirable to high-net-worth buyers. Furthermore, the timeframe to build large, custom homes can range 3-4 years, and no new luxury condo projects are being built for the foreseeable future.
We believe the restraints on supply and increased demand will result in upward pressure on pricing.
Our team at Luxury Real Estate Advisors has 1000’s of data sets, contact us for more information.