Las Vegas Real Estate Market Leaving Working Class Residents Behind
Las Vegas real estate experts are increasingly vocal about the need for attainable housing in the Las Vegas Valley area. “Attainable housing,” as opposed to the more commonly used term “affordable housing,” refers to property for people who do not qualify for federally-defined affordable housing, but who don’t earn enough to purchase a market-rate house.
According to an article in In Business Las Vegas, “Housing is attainable when a household at 80 percent to 120 percent of area median income pays no more than 30 percent of their income for housing and utilities.”
Las Vegas real estate investors and wealthy visitors, buying up luxury condos and vacation homes have pushed up housing prices tremendously over the last few years. It is worthwhile for us all to remember the people who help make this neon city run smoothly, and help keep them here in Las Vegas.