In The News: Molasky Family Department of Economics and Real Estate

May was the fifth consecutive month Las Vegas has seen a year-over-year decline in tourism traffic, with visitor volume down 6.5%, per the Las Vegas Convention and Visitors Authority.

Millionaires have been flocking to Las Vegas at unprecedented rates and buying up lavish properties, a new study has revealed. From 2019 to 2023, the number of millionaires moving to the Sin City metropolitan area has boomed by 166 percent, according to Rent Cafe, which crunched numbers from Census Bureau data.

Pete Kelly, the used car manager at Jim Marsh Kia and Jim Marsh Chrysler Jeep in Las Vegas, hasn’t bought a used car for less than $20,000 at auction in over two years, and it’s not for lack of trying. Since the pandemic, he said, there are fewer options for used cars under $20,000 and he’s having to compete with national chains willing to accept slimmer profit margins.
A years-long effort to sell public lands has gained steam in this year’s federal budget negotiations as a proposed solution to the housing crisis, but critics say it’s just the latest attempt to render an unpopular political proposition more palatable.

As global tariffs continue to fluctuate, consumers may feel the effects in their wallets, according to Stephen Miller, an economist and research director at the University of Nevada, Las Vegas's Center for Business and Economic Research.

President Donald Trump’s administration has pitched its fix for the growing number of borrowers, which includes ending a COVID-19 pandemic-related pause on certain payments, restricting forgiveness qualifications and emphasizing responsibilities for schools — an expectedly drastic contrast from the previous White House’s approach.

A new report from the Lied Center for Real Estate at UNLV blames under-building of new homes in Southern Nevada since the Great Recession for the housing unaffordability the region faces.
Since 2020, Nevada’s unemployment rate has been significantly higher than the national average, even as tourism has recovered

The year 2024 served as a victory lap of sorts in the Las Vegas tourism industry’s recovery from the pandemic. Emboldened by its first-time status as the host of the Super Bowl, Las Vegas set a high mark in visitor spending for the third consecutive year, pulling in $55.1 billion from a visitor count that fell just 800,000 people shy of the 42.5 million who came here in 2019.

Southern Nevada's economy depends on tourism, but rising tariffs could squeeze the industry that fuels our region. Now, a local economic expert warns the biggest impact could fall on the workers and families who call Southern Nevada home.

After a rollercoaster day on Wall Street - tonight President Trump is doubling down and threatening even bigger tariffs on imports from China if the country does not revoke its retaliatory tariffs on American products sold there against the U.S and with the cost of consumer goods on the verge of several price hikes, shoppers all over the U.S. may soon have to dig deeper into their wallets.

Stock markets in the U.S. and around the world have taken deep plunges in response to the White House tariffs announced last week. Nicholas Irwin, an associate professor with UNLV's Department of Economics, joined us to break down everything and what it means moving forward.