In The News: Lee Business School

Three quarters of the ZIP codes in Southern Nevada have seen home price declines year-over-year, according to a new study. Most of the ZIP codes (74 percent) that saw the largest per square foot median price decline in the valley included parts of the Las Vegas Strip where there aren’t a lot of single-family houses but an ample number of high-rise condominiums and apartments, according to a new study by the UNLV Lied Center for Real Estate.

Three quarters of the ZIP codes in Southern Nevada have seen home price declines year-over-year, according to a new study. Most of the ZIP codes (74 percent) that saw the largest per square foot median price decline in the valley included parts of the Las Vegas Strip where there aren’t a lot of single-family houses but an ample number of high-rise condominiums and apartments, according to a new study by the UNLV Lied Center for Real Estate.

Since the early 2000s, a fall in employment in the state of Nevada has preceded a broader U.S. recession. It makes sense why—the economic fortunes of Las Vegas, which make up a big part of the state’s overall economy, are intimately tied to consumers’ comfort with spending. Host Alex Ossola speaks with Andrew Woods, director of the Center for Business and Economic Research at the University of Nevada, Las Vegas, about what the state data shows now, and what it says about the health of the U.S. economy. This is part one of our four-part series on alternative economic indicators.
Las Vegas is bracing for another hit to its already struggling tourism industry. The city’s main airport is one of the 40 airports the Federal Aviation Administration directed to cancel up to 10% of its flights to relieve pressure on unpaid air traffic controllers due to the ongoing government shutdown.
The major ransomware attack against Nevada discovered in late August has been underway since May, The Associated Press reports. Injection of a clandestine backdoor facilitated by a Nevada state employee's accidental download of a malicious system admin tool on May 14 allowed threat actors to create encrypted tunnels, conduct lateral movement, and infiltrate the state's password vault server by August, according to a post-mortem report from the state.

State workers were put on paid administrative leave. Nevada residents couldn’t receive their driver’s licenses. Employers were unable to conduct background checks on new hires. These were all effects of a massive cyberattack in Nevada that took nearly a month to fully restore its services.

State workers were put on paid administrative leave. Nevada residents couldn’t receive their driver’s licenses. Employers were unable to conduct background checks on new hires. These were all effects of a massive cyberattack in Nevada that took nearly a month to fully restore its services.

The “threat actor” who conducted a ransomware attack on the state of Nevada was in the government’s computer systems as early as three months before, the state revealed in an after-action report released Wednesday.

The Center for Business and Economic Research at UNLV estimates that the military has about 17,200 personnel stationed in Clark County. Federal defense spending is estimated to contribute $7 billion to the Nevada economy in 2017 dollars, according to the researchers.

For Americans who can afford it and the workers who make it possible, summer is a time for pools, beaches, lakes, and water parks — a cooling down of the Great American Machine. Unless you’re looking for the next generation of NBA stars making their professional debut. For this, one must brave the desert heat.

Businesses have lost confidence in the economy, according to a UNLV report that will be released publicly next week. The dramatic decline in confidence happened quickly, plunging since a recent survey last quarter, and has reached depths that haven’t been seen in more than a decade, according to Andrew Woods, director of UNLV’s Center for Business and Economic Research.

Las Vegas is shedding its "Sin City" moniker as it transforms into a major sports hub, boosting tourism and the local economy.