 Southern Nevada - seems an unlikely place to draw over 2 million residents. The area gets on average 4 inches of rain per year making it one of the driest places on Earth. The summers are well over 100 degrees and the winters tend to be cold and windy. It is a harsh environment. Regardless, here are 10 factors which have influenced development making the area not just livable, but a goldmine for investment and a place people are happy to call home.
1: Las Vegas is Spanish for “The Meadows”. The valley had natural springs and abundant wild grasses that attracted the first settlers over 10,000 years ago; the Anasazi and Paiute Indian tribes. In the mid 1800’s the natural springs attracted the LDS Church from Salt Lake City as a midpoint between Los Angeles and Salt Lake City.
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 Residents of the Las Vegas Valley over the past dozen years have been on a housing rollercoaster. It all started around the beginning of the new millennium. In the 1980’s and 1990’s the valley experienced modest, but consistent single digit increases in the price of housing. Then the roller coaster began.
Fueled by unregulated speculation, housing prices climbed and climbed and climbed. For approximately six years everyone bought houses if they could afford them or not. Finally, the housing market collapsed giving back years of appreciation. For several more years the value of homes remained at low levels as ramped foreclosures kept a dark cloud over the market; until now. |
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