Developers address challenges of valley’s development BY BUCK WARGO LAS VEGAS BUSINESS PRESS April 22, 2025 - 9:55 am The Southern Nevada Chapter of NAIOP hosted its April breakfast meeting on future development in the Las Vegas valley that portrayed challenges ahead for the marketplace. Entitled “Building Up or Sprawling Out: The Southern Nevada Growth Debate,” the April 10 meeting of the development organization at The Orleans included Frank Maretti, founder of G2 Capital Development; Guy Martin, president of Martin Harris Construction; and John Restrepo, principal of RCG Economics. Steve Neiger, principal of CAST, moderated the discussion that examined the region’s potential shift from horizontal expansion to high-density infill development. “Nevada is a unique state and Southern Nevada is even more unique in terms of federal ownership,” Restrepo said. “The idea that we have lots of land to develop is not true compared to other states. Some 89 percent to 90 percent of Clark County is controlled by the federal government and various federal agencies. We’re limited in our land resources, and we’ve known it. We’ve just not done enough to move things along in terms of getting more [...]

Tariffs, Layoffs, Have Consumers Depressed March 31, 2025 By Las Vegas Private Lenders LLC Consumers are feeling the funk and it’s not yet Liberation Day (April 2). The University of Michigan index came in at 57 this month, the lowest level in three years, marking a decline from 64.7 in February and 79.4 a year ago. Two-thirds of consumers expect higher unemployment in the next year, the highest reading since 2009, reports the Wall Street Journal. “There’s a very broad consensus that the outlook has weakened compared with February,” Joanne Hsu, the survey’s director told the WSJ. “Consumers are worried about a whole bunch of things at this point,” she added, citing downbeat survey responses about employment, inflation and personal finances. Elon’s DOGE boys are running with chainsaws and big, small, reciprocal, or whatever kind of tariffs look eminent.  David Ricardo’s comparative advantage is getting no trunk at the White House. High Tower Las Vegas and RCG Economics, in their latest Fact Pack! put some numbers to the consumer doldrums. U.S. employers announced 172,017 layoffs in February, up 245 percent from January and the highest monthly count since July 2020. More than one-third — [...]

NAIOP Southern Nevada Presents “Building Up or Sprawling Out: The Southern Nevada Growth Debate” at April 10 Breakfast March 26, 2025 By B&P Industry experts will debate the Las Vegas Valley’s development future at NAIOP Southern Nevada’s April 10 breakfast meeting, “Building Up or Sprawling Out: The Southern Nevada Growth Debate.” The panel includes Frank Maretti, founder of G2 Capital Development; Guy Martin, president of Martin Harris Construction; and John Restrepo, principal of RCG Economics. They will examine the region’s potential shift from horizontal expansion to high-density infill development. Steve Neiger, principal of CAST, will moderate the discussion. The breakfast meeting sponsor is American Nevada Realty. As Southern Nevada’s premier commercial real estate association, NAIOP brings together the brightest minds through dynamic monthly gatherings. From insider market insights to game-changing strategies, its programs give members a competitive edge in this evolving industry. Whether you’re a seasoned pro or new to commercial real estate, NAIOP invites you to experience what makes it the region’s most vital industry network. To register or for more information, call (702) 798-7194 or visit www.naiopnv.org. When: Thursday, April 10 7:30 a.m. – Arrive at the Orleans Hotel [...]

By: Bloomberg Finance L.P. and Wells Fargo Economics (March 14, 2025) Bloomberg Finance and Wells Fargo Economists have updated their Weekly Economic Indicator Forecasts. The most significant highlights are: Retail Sales (MoM) reversing sign from -0.9% to 0.6% Housing Starts increasing from 1366K to 1385K Existing Home Sales decreasing from 4.08M to 3.93M READ THE ORIGINAL ARTICLE

Economist says he’s ‘optimistic but not delusional’ on Vegas economy BY BUCK WARGO LAS VEGAS BUSINESS PRESS March 11, 2025 - 9:17 am As the stock market pulled back further Monday amid worries of an economic slowdown caused by new tariffs, an economist has outlined his concerns and bullish prospects for Southern Nevada along with the importance of adding federal lands for future development. Cameron Belt, an economist with Las Vegas-based RCG Economics, an economic and real estate advisory firm, talked about what’s ahead for Southern Nevada during a presentation at the 2025 Battle Born Economic Summit sponsored by the Keystone Corp. Zach Walkerlieb, director of the board of directors for Keystone, opened the summit talking about the importance of the push by Nevada Gov. Joe Lombardo and others to get Congress to release more federal land. “We need as much land as possible,” Walkerlieb said. “It’s what will bring affordable housing back to the city of Las Vegas and Southern Nevada along with economic development and diversification.” In outlining the economy, Belt cited the Federal Reserve of Atlanta’s projection of 2.3 percent GDP growth in the first quarter after a 2.7 percent [...]

By: Bloomberg Finance L.P. and Wells Fargo Economics (February 28, 2025) Bloomberg Finance and Wells Fargo Economists have updated their Weekly Economic Indicator Forecasts. The most significant highlights are: Factory Orders (MoM) reversing sign from -0.9% to 1.7% Trade Balance decreasing from -$98.4B to -$129.4B Nonfarm Payrolls increasing from 143K to 170K READ THE ORIGINAL ARTICLE

By: Bloomberg Finance L.P. and Wells Fargo Economics (February 7, 2025) Bloomberg Finance and Wells Fargo Economists have updated their Weekly Economic Indicator Forecasts. The most significant highlights are: Core PPI (MoM) increasing from 0.0% to 0.3% Retail Sales (MoM) decreasing from 0.4% to 0.0% Industrial Production (MoM) decreasing from 0.9% to 0.3% READ THE ORIGINAL ARTICLE

NEVADA VIEWS: Hamstringing business By Cameron Belt Special to the Las Vegas Review-Journal January 11, 2025 - 9:01 pm Nevada lawmakers expected the Southern Nevada Tourism Improvement Act — Senate Bill 1, which was enacted during the 2023 special legislative session, to be a positive force for the Nevada economy by paving the way for the Oakland Athletics to move to Las Vegas. Instead, it may be hampering economic development opportunities and business attraction options for the state. Included in SB1 was a new rule for companies seeking tax abatements from the Governor’s Office of Economic Development that went into effect Oct. 1, 2023. Under Section 39 of SB1, companies that seek abatements for relocation or expansion and plan to employ at least 50 workers must “agree that all employees who have been employed by the business for at least 1 year will be eligible for at least 12 weeks of paid family and medical leave at a rate of at least 55 percent of the regular wage of the employee.” At first glance, this seems to bolster worker rights and welfare. But a deeper analysis shows this mandate [...]

By: Bloomberg Finance L.P. and Wells Fargo Economics (January 10, 2025) Bloomberg Finance and Wells Fargo Economists have updated their Weekly Economic Indicator Forecasts. The most significant highlights are: PPI Final Demand (YoY) increasing from 3.0% to 3.4% Retail Sales (MoM) decreasing from 0.7% to 0.4% Housing Starts (SAAR) increasing by 2.4% from 1,289K to 1,320K READ THE ORIGINAL ARTICLE

OPINION: For whom the bell tolls; not the economy - The Nevada Independent By Andrew Woods and Stephen Miller December 14th, 2024 When the economy shifts no bells ring, smoke signals rise or, more contemporarily, smartphone alerts sound. You may not even notice, but economists do. So, when the Federal Reserve Open Market Committee, aka the lords of interest rates, cut rates by 50 basis points in September and another 25 basis points in November, economists and market analysts took notice. Recall that the Federal Reserve Open Market Committee began rate hiking in March 2022, raising rates 11 times during the next 18 months. Then for another year, they held rates steady, hoping to stem the tide of rising prices. These interest rate hikes did the job of bringing inflation rates down — from a high of just under 9 percent in June 2022 to 2.5 percent in October 2024. But what many now understand is that lower inflation does not translate into lower prices. For whom did the bells toll? In today’s world, which may explain the recent presidential election outcome, the economy was issue number one. The average person [...]