We certainly do not want to get ahead of ourselves, but we in the Nevada small business community are hoping that the worst of the pandemic is in the rear-view mirror and better times lie ahead.
At Silver State Schools Credit Union, we guide our members to make sound financial decisions no matter what their individual circumstances may be. With tax refunds on the way and many people having received their stimulus payments from the recently passed stimulus bill, there are many options available to make sure your money moves for you, as well as taking care of your immediate needs.
If you’re a business owner in Southern Nevada, I don’t have to tell you it’s been one wild ride over the last 12 to 15 months.
The housing market in Las Vegas is hotter than it’s been in years, and this, of course, extends to Southern Nevada’s fine array of luxury homes. From MacDonald Highlands to Red Rock Country Club, Las Vegas has some of the most high-end communities available in this region for those with the pocketbook to match.
Accordingly, in 2021 the Nevada federal delegation introduced the Public Lands Bill – Southern Nevada Economic Development and Conservation Act, which proposes roughly 2 million acres be protected for conservation and recreation, including a 51,000-acre expansion of the Red Rock Canyon National Conservation Area, 41,255 acres to be held in trust for the Moapa Band of Paiutes and roughly 30,000 acres for affordable housing and business growth, including an expansion of the LTA. Introduced only a few months ago, the community should watch this legislation closely as it holds great implications for the future of our state.
It goes without saying that most businesses were not prepared when the world effectively shut down last year. Now, after navigating all the issues that came with operating a business during COVID-19, including a huge uptick in working from home, the world is opening back up. A primary concern for business owners is what you can require of employees to prevent the spread of COVID-19 and what accommodations you must offer to employees. An experienced attorney in the field of employment law can guide you through these issues.
Nevada retailers are ready for Nevada to reopen, but the retailers, who have been on the frontlines of this pandemic for more than a year, agree with the Clark County Commission; a measured approach is critical to the successful reopening of Nevada. A measured approach to reopening Nevada’s largest county will ensure the health and safety of our citizens and the security and stability Nevada’s local businesses need to truly recover from this pandemic.
Homeownership in America has historically been the single best way to build wealth. New work-from-home policies mean buyers have more flexibility to choose where they want to live. And with mortgage rates at near record lows, it would seem like an ideal time to consider a home purchase. However, while it may be more affordable to get a mortgage now, it’s also become increasingly more difficult to actually get approved for one.
We have slightly dialed back our forecast for 2021 and 2022, reflecting building material shortages, which are leading to soaring costs and project delays. Inventories of homes for sale remain incredibly low headed into the spring selling season, which will likely slow home sales a touch. In Nevada, the for-sale inventory of existing homes is down 39 percent since last March.