Las Vegas has become a city of renters, even though it’s far less expensive to buy a home than to rent one in the metropolitan area.
From a peak of 64 percent home ownership in 2000, the Las Vegas Valley ownership rate is now at 48 percent – and is expected to continue to fall.
About half of the 100,000 existing homes sold in the region over the past two years have been all-cash transactions, an indication that they’re being bought by investors rather than primary residents. This is a clear indication that most of these homes will end up as rentals.
Read more of the online article at the Las Vegas Review Journal.