The index of indicators shows some positive elements. Immigration is up nearly 10% over last year, which creates housing demand. Employment is up. Not by much, and not enough to prevent the unemployment rate from going up, but there are more jobs in town than there were a year ago.
Notice that taxable sales are up considerably and that gaming revenue, while down, is down less than 3%.
November 18, 2008 at 6:45 pm
Alex,
I know this is a site on the positives and appreciate that. I love the site and read it routinely.
However, the most recent information from Clark County says we lost population for the first time in history here in Clark County. That is quite disturbing tome as it was always what we hung our hats on.
The growth was always here and it fueled everything. Even with the in-migration, we lost population. That means we are hemorrhaging people even much faster than we are bringing them in.
I believe in Vegas long term, but short term, things are going to get much worse than they already are. Investors have been buying on the way down expecting a quick snap back, but it has not happened. Money will stop flowing in the short term when this type of information gets a chance to get integrated into their decision making…