While most people certainly see the economic issues and the rates of foreclosures in areas like Las Vegas to be negative, there are those who are benefiting from these current events. Home Builders Research President Dennis Smith says, for instance, that the good news is that housing prices in Vegas have become quite affordable.
This affordability, alone, should increase home sales and boost the real estate market a bit. As Smith reports,”We’re still going to sell some new homes. We still have people retiring. Yuppies are retiring and moving here for tax reasons. Being in the Southwest, because of our better weather, there’s always going to be people moving here.”
In addition, companies and individuals who can afford to do so are helping to regenerate the real estate market by purchasing foreclosed real estate and other properties. Such companies, like Sightline Acquisition with Kirk Sanford, and others, help to rejuvenate the economy in Vegas and bring people back.