🏘️ Wall St. gobbles up Vegas homes

🏘️ Wall Street Eats Up Las Vegas Homes

It’s tricky to pinpoint why Vegas home prices are higher than they used to be. Sure, there’s big demand from a growing population, but investors are tapping into our real estate market too, buying nearly half-a-million homes since the Great Recession — and 23 percent of all purchases last year. [Las Vegas Review-Journal]

• City Cast Las Vegas takes a closer look at these corporate buy-ins … and if the trend is making it more difficult for locals to afford any homes at all. [City Cast Las Vegas 🎧]

💰 The Business of Selling CityCenter

Try to keep track. MGM Resorts continues to operate CityCenter, which includes Aria and Vdara, after selling it off to Blackstone, which is now selling $800 million in equity to Realty Income Corp. Long story short: Vegas may be “dead,” but it’s still a good investment. [Bloomberg]

🍺 Local Businesses Continue to Struggle

People love to complain about restaurant prices, but those increases reflect growing expenses for operators, from fees to rent and supply costs — all affected by inflation. Local favorites that have closed this year, including Metro Pizza’s decades-old Eastside location, three out of four Born and Raised sports bars, and now HUDL Brewing, which wraps service in the Arts District at the end of the month. If you have dollars to spend this holiday season, please put local independents first when dining out 🙏 [KLAS/Las Vegas Review-Journal/KTNV]

✍️ Gov. Lombardo Signs Crime Bill

Not a surprise — but not a sure thing either, since Democratic playmakers made a few adjustments to his signature legislation during the recent special session. A special court system to tackle crimes on the Strip is returning, while illegal immigration enforcement will be limited on school grounds. [Nevada Independent]