Editorial: Imagine that: Rents fall when more housing gets built
The Las Vegas Review-Journal Editorial Board outlines why policymakers should be looking to Sydney — not California — for solutions to Nevada’s housing crisis.
Over the past year, almost 31,000 new multi-unit dwellings have been constructed in the city and another 200,000 are in the pipeline. As a result, prices are rapidly declining. The newspaper noted that there are livable neighborhoods in Sydney population of about 5 million where a one-bedroom apartment can now be had for under $500.
Read more here.