For the first time since March 2020, the Federal Reserve is cutting interest rates. For the first time since March 2020, the Federal Reserve is cutting interest rates. It’s welcome news for people who have put off big purchases and businesses wanting to make improvements. We wanted to see when and how we could see an impact here in Nevada. To answer that, we welcomed RCG Economics Principal John Restrepo to Nevada Week. One of the big questions about the interest rates cut: how might Nevada’s housing market be impacted? Restrepo says these cuts could potentially create more demand for homes. Nevada, like many places in the country, faces a housing shortage. “The increase in interest rates could create mortgage demand and increase demand for housing, as opposed to reducing housing prices,” Restrepo explained. And for people who are considering purchasing or refinancing a home? “Wait. Wait for further cuts,” Restrepo recommends. “Wait to see what happens, April, May of next year. We have time, let’s not rush into anything. You know big purchases like that, including cars… things are going to change over time, let’s see how it all [...]

By: Bloomberg Finance L.P. and Wells Fargo Economics Bloomberg Finance and Wells Fargo Economists have updated their Weekly Economic Indicator Forecasts. The most significant highlights are: Retail Sales (MoM) decreasing from 1.0% to -0.1% Industrial Production (MoM) increasing from -0.6% to 0.1% Housing Starts increasing by 6.7% from 1238K to 1322K READ THE ORIGINAL ARTICLE

By: Bloomberg Finance L.P. and Wells Fargo Economics Bloomberg Finance and Wells Fargo Economists have updated their Weekly Economic Indicator Forecasts. The most significant highlights are: Factory Orders (MoM) increasing from -3.3% to 4.1% Nonfarm Payrolls increasing by 27% from by 114K to 145K Trade Balance decreasing from -$73.1B to -$79.1B READ THE ORIGINAL ARTICLE

By: Bloomberg Finance L.P. and Wells Fargo Economics Bloomberg Finance and Wells Fargo Economists have updated their Weekly Economic Indicator Forecasts. The most significant highlights are: Durable Goods Orders (MoM) increasing from -6.7% to 3.0% Durables Ex Transportation (MoM) decreasing from 0.4% to 0.0% Personal COnsumption (QoQ) increasing slightly from 2.3% to 2.5% READ THE ORIGINAL ARTICLE

By: Bloomberg Finance L.P. and Wells Fargo Economics Bloomberg Finance and Wells Fargo Economists have updated their Weekly Economic Indicator Forecasts. The most significant highlights are: Retail Sales (MoM) increasing from 0.0% to 0.3% Industrial Production (MoM) decreasing from 0.6% to -0.2% Core CPI (YoY) decreasing slightly from 3.3% to 3.2% READ THE ORIGINAL ARTICLE

By: Bloomberg Finance L.P. and Wells Fargo Economics Bloomberg Finance and Wells Fargo Economists have updated their Weekly Economic Indicator Forecasts. The most significant highlights are: Nonfarm Productivity (QoQ) increasing from 0.2% to 2.8% Unit Labor Costs (QoQ) decreasing from 4.0% to 1.8% Nonfarm Payrolls decreasing by 12% from 206K to 180K READ THE ORIGINAL ARTICLE

By: Bloomberg Finance L.P. and Wells Fargo Economics Bloomberg Finance and Wells Fargo Economists have updated their Weekly Economic Indicator Forecasts. The most significant highlights are: Existing Home Sales (SAAR) decreasing by 4% from 4.11M to 3.94M New Home Sales (SAAR) increasing by 4% from 619K to 646K Personal Spending (MoM) decreasing slightly from 0.5% to 0.4% READ THE ORIGINAL ARTICLE

By: Bloomberg Finance L.P. and Wells Fargo Economics Bloomberg Finance and Wells Fargo Economists have updated their Weekly Economic Indicator Forecasts. The most significant highlights are: Retail Sales (MoM) turning negative from 0.1% to -0.5% Industrial Production (MoM) decreasing from 0.9% to 0.3% Housing Starts (SAAR) increasing 2.9% from 1277K to 1315K READ THE ORIGINAL ARTICLE

Why isn’t there more land to develop in Las Vegas? Industry blames BLM By Patrick Blennerhassett Las Vegas Review-JournalJuly 2, 2024 - 6:00 am A former long-time Bureau of Land Management employee said there is nothing stopping the agency from releasing prime land in the valley to help alleviate the current real estate crisis crippling the Las Vegas Valley. Mike Ford, one of the owners of Las Vegas-based Abbey, Stubbs & Ford, a public lands consulting firm, said there are a few magic numbers to keep in mind when looking at this issue. “There’s 2.9 million acres of BLM land in Clark County, and that’s what we really need to focus on because land managed by the other (federal) agencies is generally not available for disposal because it has environmental attributes or it’s part of a congressionally designated special management unit.” Ford said the Southern Nevada Public Land Management Act passed in 1998 identified around 67,000 acres out of the 2.9 million potentially available for disposal in the Las Vegas Valley that could be utilized for either commercial or residential development. He added around 33,000 acres of other small BLM [...]

By: Bloomberg Finance L.P. and Wells Fargo Economics Bloomberg Finance and Wells Fargo Economists have updated their Weekly Economic Indicator Forecasts. The most significant highlights are: Construction Spending (MoM) changing sign from -0.1% to 0.3% Nonfarm Payrolls decreasing from 272K to 200K Factory Orders (MoM) decreasing from 0.7% to 0.5% READ THE ORIGINAL ARTICLE