Few cities were hit as hard by the pandemic as Las Vegas. The region’s economy - almost entirely dependent on tourism - ground to a halt during the peak of COVID-19. But as more and more people make their way back to Sin City, experts warn of a permanent dip in visitor volume compared to pre-pandemic levels.

Close to 100 Washington State motorists took advantage of this holiday weekend’s free gasoline giveaway at Snoqualmie Casino. The limited promotion took place as gasoline prices are setting record highs.

Over the past year, colleagues at the Brookings Institution and the University of Nevada, Las Vegas, have launched a research project that examines shifting inequities in the post-pandemic recovery. Many researchers, including our colleagues, have framed the effects of COVID as a disease and a turbulent economic moment that punctuated a robust economy. Far fewer have appreciated the asymmetries in the lived experiences of the journey back to normalcy, which have largely been defined by racialized identities, chronic marginalization, and the influence of place in shaping these experiences.

Over two years into the pandemic and its recovery, we now face an entirely new set of facts in the macroeconomy as we face a cooling economy and possibly another recession. Previously, loose monetary and expansionary fiscal policies saved the day for many people. The support for government programs to aid unemployed workers and small businesses proved essential during the recovery process. But, now, policy makers must evaluate a completely changed situation. Labor markets are overheating and employers find it difficult to hire needed workers. Moreover, the inflation dragon, which had been chained up for decades, is on the loose and creating anxiety for consumers, workers, and financial markets.

Over two years into the pandemic and its recovery, we now face an entirely new set of facts in the macroeconomy as we face a cooling economy and possibly another recession. Previously, loose monetary and expansionary fiscal policies saved the day for many people. The support for government programs to aid unemployed workers and small businesses proved essential during the recovery process. But, now, policy makers must evaluate a completely changed situation. Labor markets are overheating and employers find it difficult to hire needed workers. Moreover, the inflation dragon, which had been chained up for decades, is on the loose and creating anxiety for consumers, workers, and financial markets.

More than half of Nevada homeowners with mortgages are considered “equity rich” according to real estate data analyst ATTOM, meaning they owe less than 50% of their property’s market value.

More than half of Nevada homeowners with mortgages are considered “equity rich” according to real estate data analyst ATTOM, meaning they owe less than 50% of their property’s market value. 

Las Vegas-bound casino visitors face among the highest gasoline prices in the US. This could impact the number of visitors and COVID recovery in the gambling capital.

Eliza Trowbridge was already concerned about high gas prices earlier this spring when she realized someone had damaged her car while trying to siphon gas from it.

With recent dire warnings of a recession from major banking institutions like Deutsche Bank and Bank of America, Las Vegas could feel the impact of a downturn on a larger scale than other metropolitan areas with more diversified economies.

Soaring prices for gas, food, housing and construction supplies continue to hammer Nevadans.

The high inflation rate and the disproportionate increase in property prices could trigger a new mortgage bubble in the United States, according to some sectors. Adriana Arevalo has the report.