250,000 Las Vegans Face Eviction Next Month 

TOPICS:​Economic Collapse​Housing​Tyler Durden

AUGUST 18, 2020

By ​Tyler Durden

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; and 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.