In The News: Lee Business School

From the Las Vegas dry cleaner to the ritzy multimillion-dollar casino, cyberattacks are continuing to bring the city to a halt, but university professors have had enough.

From the Las Vegas dry cleaner to the ritzy multimillion-dollar casino, cyberattacks are continuing to bring the city to a halt, but university professors have had enough.

The federal government has increased its control of land in Nevada since the passage of a law in 1998 that was specifically designed to direct the Bureau of Land Management to offload acreage to the private sector, said a consultant who formerly worked for the BLM.

A recent study by the UNLV Lied Center for Real Estate reveals that prospective homebuyers in Las Vegas need to earn $119,000 annually to afford a median-priced home, estimated at around $400,000.

A recent study by the UNLV Lied Center for Real Estate reveals that prospective homebuyers in Las Vegas need to earn $119,000 annually to afford a median-priced home, estimated at around $400,000.

With concerts at the Sphere, Raiders games at Allegiant Stadium and Formula One racers flooring it, Las Vegas has upped its offerings outside casinos in recent years. The surge of new entertainment provides more reasons to visit Vegas, or at least more places to spend money, and boosts a segment of the local workforce. But a big question remains. Does it diversify Las Vegas’ tourism-heavy economy?

The economic impact on the local economy is hard to overstate. Canadians pumped $3.6 billion into the Southern Nevada economy and supported more than 43,000 jobs, notes UNLV economics professor Stephen Miller. When Sen. Catherine Cortez Masto (D-NV) joined a bipartisan delegation to Ottawa in July to make nice with Prime Minister Mark Carney following Trump’s blustering insults about making Canada the 51st state, it was a reminder of what’s at stake. It’s hard enough to do business in a competitive marketplace when the president is bent on driving away customers.
This summer, other border states are experiencing a different kind of drought: a dearth of Canadians. Vermont to Canada border crossings were down nearly 39% in July from the year prior, per data compiled by the state. According to Statistics Canada, Canadian spending in the US plunged 7.9% in the first quarter of 2025 from the same time in the year prior. (Ironically, in the same period, Americans made more trips to Canada than the year prior, and spent 27.3% more.)

A new study from UNLV’s Lied Center for Real Estate offered some details on high housing costs. It found that buyers needed to make more than $57 an hour to afford the monthly payment on a median-priced home. Households with two income earners need each individual to make an average of $28.61 an hour. Little wonder that so many young professionals and newly married couples feel like homeownership is a fantasy. A continued lack of affordable housing will hurt economic growth.

Paymon’s Fresh Kitchen and Lounge spent the years after COVID-19 pandemic lockdowns fighting with persistent high inflation. Sales went up for the Mediterranean restaurant in west Las Vegas by nearly 3 percent – but food and labor costs went up more than 50 percent. But 2025, so far, has been a different story.

The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation's labor market.

A Las Vegas Valley worker has to make at least $57.22 an hour to afford a mortgage payment right now, according to a new study by UNLV’s Lied Center for Real Estate.
