LETTER: Las Vegas homeowners love high home prices
Affordable housing in the Las Vegas Valley is mostly important only to first-time buyers and renters. Owners enjoy inflated prices.
Prices today reflect the corporate ownership of thousands of valley homes, which nobody complained about when the market crashed in 2008. Without corporate investment in housing, we would not see prices anywhere near where they are today. So any attempt to force corporate owners to sell their inventory of valley homes — 15 percent of the total — would place thousands of homes on the marketplace and reduce the prices of all homes.
The owners of homes are really not interested in taking a loss to provide increased opportunity for home ownership.
