Select Page

250,000 Las Vegans Face Eviction Next Month 

250,000 Las Vegans Face Eviction Next Month 

Tyler Durden

Tue, 08/18/2020 – 18:45

Las Vegas is expected to become one of the focal points of the eviction crisis as nearly a quarter-million people could be removed from their homes in the coming weeks, reported AP News

The Las Vegas Review-Journal reports a perfect storm of factors in Clark County including high unemployment, a high percentage of renters, collapsed travel and tourism industry, expiration of the state’s eviction mortarium, and the end of federal unemployment benefits could result in an eviction wave beginning as early as next month. 

Las Vegas research group Guinn Center and the COVID-19 Eviction Defense Project in Denver estimates about 250,000 people in Clark County, or approximately 10% of the population, are at risk of eviction in September. 

Nancy Brune, Guinn Center executive director, called the situation “a bad confluence of events.” 

Brune said the virus-induced downturn had severely damaged Las Vegas as fewer people are coming to gamble at casinos. Brune said 47% of households in the county are renters, of the renters, about 38% are currently unemployed. 

The bust cycle of Las Vegas could linger for a couple of years as the city must shrink to survive. 

Las Vegas economic analyst Jeremy Aguero recently warned, an economic recovery in the town could take upward of three years. 

“Our economy is in recession,” Aguero said, warning that the velocity of job loss today was much higher than the economic crash a decade ago.

We noted, in late April, certain casinos were transformed into food banks, with thousands of residents lined up outside. 

As for the rest of the country, at least 40 million people are at risk of eviction, according to Aspen Institute think tank. President Trump signed an executive order a week ago to stop evictions, though that doesn’t appear to solve the looming crisis among renters at risk of losing their homes.


This post has been republished with permission from a publicly-available RSS feed found on Zero Hedge. The views expressed by the original author(s) do not necessarily reflect the opinions or views of The Libertarian Hub, its owners or administrators. Any images included in the original article belong to and are the sole responsibility of the original author/website. The Libertarian Hub makes no claims of ownership of any imported photos/images and shall not be held liable for any unintended copyright infringement. Submit a DCMA takedown request.

-> Click Here to Read the Original Article <-

About The Author

Tyler Durden

Zero Hedge's mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information's unending quest for freedom. Visit https://www.zerohedge.com

Leave a reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Welcome

Bringing together a variety of news and information from some of today’s most important libertarian thought leaders. All feeds are checked and refreshed every hour and pages auto-refresh every 15 minutes. External images are deleted after 30 days.

Time since last refresh: 0 second

Publish Your Own Article

Follow The Libertarian Hub

 

Support Our Work

Support the Libertarian Hub by tipping with Bitcoin!

Weekly Newsletter

Newsletter Signup

Subscribe to our newsletter to receive a weekly email report of the top five most popular articles on the Libertarian Hub!

Weekly Newsletter SignupTop 5 Stories of the Week

Subscribe to our newsletter to receive a weekly email report of the top five most popular articles on the Libertarian Hub!