Crystal balls aside, there are a lot of dollars and high-level investors who are betting on “yes.”
Here are some projects that investors are betting on Las Vegas:
Las Vegas Stadium Home of the Raiders (NFL Football)
Circa First new downtown hotel/casino is 40 years
Resortworld 7,000 room hotel/casino/entertainment facility on the strip
Convention Space LVCA developing old Riviera location on the strip
Astral 620 room hotel on the strip
Area 15 68,000 sq. ft. retail/entertainment development
The Drew Formerly Fountain Bleu is nearing completion
Downtown Grand New tower
Amazon New facility, adding 1,000 jobs
Vegas Extreme Water / Extreme
sport venue
UNLV Expansion College of Business, Graduate College, College of Engineering, etc.
There are countless other small and medium-sized projects, companies, and developments in the valley planned to start by 2020 or are already in development. And don’t forget the recent developments
Las Vegas Ballpark Home of the Aviators (AAA Baseball)
Cashman Field Home of Las Vegas Lights (USL Soccer)
UNLV Medical School Shadow
Lane Building
Hospital Expansions Mountain View, Sunrise, Centennial, Las Vegas VA Hospital, etc.
Tmobile Arena Home of LV Golden Knights (NHL Hockey)
With this amount of investment in Las Vegas, barring a significant economic/geopolitical setback, Las Vegas appears to be a place of expansion, opportunity, and development for years to come. According to US BLS, unemployment in the Las Vegas area stands at 4.1% in February of 2019, down from 4.4% the year before. The public and private sectors are strong, with hiring plans in place for Clark County School District, Las Vegas Metropolitan Police, Las Vegas Fire, University Medical Center, and many other public agencies. Private sector hiring in hospitality, medical/dental, construction, high tech, transportation, and many other sectors abound.
But what about rates. The Fed’s Charles Evans said in an interview with CNBC that he could see the Fed Funds Rate to stay flat into the fall of 2020.” This is a great outlook for those planning to obtain a mortgage in the next year or so, allowing buyers to prepare now for a purchase or new construction several months down the road.
