Las Vegas’ housing market is “on fire” despite the coronavirus pandemic’s devastating effect on the economy, as sales totals surged and prices hit another all-time high last month. (Michael Quine/Las Vegas Review-Journal)
The Federal Reserve announced several new measures on Monday. Among the announced programs
is a further commitment of $300 billion “supporting the flow of credit” for Main Street businesses. (Las Vegas Review-Journal)
The Trump administration is seeking $850 billion in emergency economic stimulus. (Wibbitz)
The line at the unemployment office on West Charleston Boulevard stretched out the front door Monday morning, filled with workers who had recently suffered from layoffs. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfaye
Coronavirus fears continue to compound along with the number of international cases of the illness. On Friday, Global markets continued their dive, with the main European markets losing between 2 and 3 percent. (Las Vegas Review-Journal)
Fitness chain Life Time has acquired the former Sullivan Square site in Las Vegas for $14 million. The southwest valley property, across the street from Ikea, is little more than a giant hole in the ground. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfaye
The median sales price of previously owned single-family homes – the bulk of the market – was $310,000 in September. Before the economy crashed last decade, prices peaked in June 2006 at $315,000, according to the Greater Las Vegas Association of Realtors.(Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfaye
While the last economic downturn had a dramatic impact on local casinos, most experts expect the industry will be better able to weather the storm during the next recession. (Mat Luschek / Las Vegas Review-Journal)
Area manager Justine Gordon during an interview of Amazon’s North Las Vegas fulfillment center on Thursday, Dec. 6, 2018. Richard Brian Las Vegas Review-Journal @vegasphotograph
The Tesla Gigafactory’s economic impact on Nevada has exceeded projections, bringing in more than 7,000 jobs. In 2014, Nevada agreed to give the automotive and energy company $1.3 billion in tax abatements. In return, Tesla promised to meet certain requirements in areas like employment and capital investment. As of June, Tesla has brought in a total of $6.05 billion in capital investment, surpassing the $4.95 billion projection. The original contract gave the company until 2024 to make $3.5 billion in capital investments in Nevada. Derek Armstrong, deputy director of the Governor’s Office of Economic Development.
U.S. employers added a modest 103,000 jobs in March after several months of robust gains, though the government’s overall jobs report Friday suggested that the labor market remains fundamentally healthy. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye