The Consumer Confidence Index rose in January for the second straight month. Economists had been expecting a slight drop (due mostly to the trade deficit, oil and Iraq), but one must understand that economic forecasting is not dissimilar to weather forecasting in terms of predictive power. The important thing about this data is that it strongly suggests the economy will continue to grow at a steady pace through the first half of 2005. The initial December figure was revised upwards as well (yes, that means they got it wrong the first time). Be that as it may, this is good news for the economy, good news for the labor market and good news for the housing market. And all of this is good news for Las Vegas and the market for real estate in Las Vegas. How so? Believe me, when people feel good about their lives from an economic standpoint, they like to go places and do things that reflect those positive feelings. The number 1 place in America to express how you feel about your wallet or purse is Las Vegas. Don’t doubt it for a second. A strong and growing economy translates directly into tourist revenue for the Las Vegas Strip. This translates directly into more prosperity for employees of the Gaming industry. And that translates directly into the market for residential real estate in Las Vegas. A Las Vegas home is a sound investment in what appears to be (according to the CCI) a sound economy. MS Las Vegas Real Estate is your comprehensive source for professional guidance in the Las Vegas real estate market.

This entry was posted by Michelle Sterling on Wednesday, January 26th, 2005 at 7:50 am and is filed under Business & The Economy, Las Vegas Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.