Why Wall Street isn’t Responsible for NV Housing Costs

Blaming institutional investors and private equity firms for high rents and home prices in Nevada demonstrates a failure to understand our market or basic economics.

As a recent opinion piece in the Nevada Independent pointed out, fewer than 2 percent of single-family rental homes in the Las Vegas area are owned by large rental providers.

Contrary to what we see on social media and even in some mainstream publications, Wall Street corporations are not responsible for our housing shortage or high prices. Quite simply, it’s a demand issue. Nationwide, the supply of housing in the U.S. has not kept pace with demand, and today the U.S. faces a housing deficit of between 4 million and 6 million homes.

This problem is exacerbated in Nevada, where more than 80 percent of all land is federally owned, and therefore not available for construction. If we want more Silver State housing to be available at lower prices, we must first and foremost gain control over our own land.

Read more here: https://thenevadaindependent.com/article/opinion-nevada-needs-more-housing-not-irrelevant-finger-pointing