[vegas_4u]

Originally Posted by desertsun41

Of your 150,000 jobs City Center will be creating, it is estimated that 90% of them will be retail jobs. Traditionally the lowest paying jobs in America. Tell us all how 135,000 minimum wage jobs will do anything positive for this city. I see this as bringing it down even faster then it already is falling.

Do you know any body who can survive this high cost city making $6/hr? What about a duel income family where both earn $6/hr? $12/hr does not even buy you a rental in the getto here.

Whatever happens.....is anyones guess. It is yet to be learned. I would bet money on my theory though.

yes, good point.. but historically, check history, after the opening of these massive resorts in Vegas, a boom always follows.... the spillover generates thousands of new jobs not directly related to the actual resort as well..... including but not limited to small business from insurance, to consulting, to name a few.......

And these resorts are on a exponentially larger scale than previous large ones like Wynn or Bellagio.... I forsee a spike and gobbling up of properties (if the influx of people can't buy, they will rent)... so rents are going to skyrocket... and once rents go up, property values do as well, because investors want to get in on the action, buy a property to rent it out... then prices rise..... it's a domino effect.. just as fast as it drops, it goes back up....

[PinkString]

Originally Posted by desertsun41

Do you know any body who can survive this high cost city making $6/hr? What about a duel income family where both earn $6/hr? $12/hr does not even buy you a rental in the getto here.

.

Not too many retail jobs pay just $6 an hour. Most start around $10 an hour with regular raises.
I think you are thinking of McDonalds at $6 an hour.

[olecapt]

Originally Posted by desertsun41

Of your 150,000 jobs City Center will be creating, it is estimated that 90% of them will be retail jobs. Traditionally the lowest paying jobs in America. Tell us all how 135,000 minimum wage jobs will do anything positive for this city. I see this as bringing it down even faster then it already is falling.

Do you know any body who can survive this high cost city making $6/hr? What about a duel income family where both earn $6/hr? $12/hr does not even buy you a rental in the getto here.

Whatever happens.....is anyones guess. It is yet to be learned. I would bet money on my theory though.

You picked that number from thin air. At least a third of the jobs will be casino/hotel which start above 12. Retail seasonal work in Las Vegas goes for 8. There will be low end retail in the mix certainlly...but not more than a third or so.

And I am an RE Agent. And I always advice techies that it is a bad town...unless you are in to some specialty that works here. And I have never advised anyone to come here without substantial resources for a significant job hunt. The clientele that I work is generally quite well off. The only real contact I have with new wage earners would be finding an occassional rental for someone who asks off a list.

This list gives pretty good advice. Check out the threads on the OP - Parking. He is actually an IT guy looking for a position that is pretty high up in the pecking order in Las Vegas. $70K IT jobs here require local experience or working for one of the governments or a little luck. Parking had none.

[AA702]

Originally Posted by parking

Okay now; it's true I do not live in Vegas any more. I now reside in San Francisco. It seems some of you remember postings I posted 6 months ago where I stated I couldn't find a job in Vegas. I had to leave. No job offers. Money was running low and I had a family to support. Making the move back to Frisco was the BEST THING I every did. Getting back to the topic, many of my friends who still reside in Vegas are unemployed now. Many of them are considering moving back to Cali. My point is that many people from different parts of the US, expect to land a job in a day. THIS WILL NOT HAPPEN. Many of you (real estate agents) who reply to postings, will provide misleading job, and housing info to members of this forum in hopes of landing a lead.

Beware.

That's why I was scratching my head? Why would you leave the great job market of SF to LV? I left the Bay Area for high housing costs, but I had a line of work I can depend on in Las Vegas. I would have never left without that assurance. Out of all the people I know that came from CA, no one I know is out of work here. I think its those who come here with no job and just those ones who take anything just to get by.

[radraja]

Some people are so ignorant. How could the fastest growing city in country have no jobs?

Of course there are jobs. Aside from the hundreds of thousands of casino jobs popping up, we also have a really high demand for teachers, doctors, nurses, etc.

[parking]

Olecapt is a agent. Look at his previous posts. I love how he talks about property in Vegas going up. Then he slides you his contact info.

People will move here regardless. All I am saying is, do you research. There is enough information on this board to help you with your journey.

[olecapt]

Originally Posted by parking

Olecapt is a agent. Look at his previous posts. I love how he talks about property in Vegas going up. Then he slides you his contact info.

People will move here regardless. All I am saying is, do you research. There is enough information on this board to help you with your journey.

Does your nose grow when you tell your whoppers? Tell us all when I solicited you or anyone. I will provide help on occassion when it is specifically asked for but I don't solicit anybody.

My maximal good projection for Las Vegas is that the pricing will be no lower in March of 2010 than it is now. I actually think it will be a little better than that but too soon to tell. Just pop up one of those many posts you cited where I said something else. Otherwise just admit you are of the prevaricator variety so that Readers may properly classify your insights.

And lastly we can be glad that you now favor SF with your presence rather than Las Vegas.

[dynimagelv]

Originally Posted by PinkString

Not too many retail jobs pay just $6 an hour. Most start around $10 an hour with regular raises.
I think you are thinking of McDonalds at $6 an hour.

I THINK even MickieD's pays more then that....I'll have to check w/G'son who has an interview there......[first job]

Desertsun has been out in the Desertsun too long and Park....is parked......they pull stats out their.......well...you know......

[desertsun41]

Originally Posted by vegas_4u

yes, good point.. but historically, check history, after the opening of these massive resorts in Vegas, a boom always follows.... the spillover generates thousands of new jobs not directly related to the actual resort as well..... including but not limited to small business from insurance, to consulting, to name a few.......

And these resorts are on a exponentially larger scale than previous large ones like Wynn or Bellagio.... I forsee a spike and gobbling up of properties (if the influx of people can't buy, they will rent)... so rents are going to skyrocket... and once rents go up, property values do as well, because investors want to get in on the action, buy a property to rent it out... then prices rise..... it's a domino effect.. just as fast as it drops, it goes back up....

I hope you are right about the additional better paying jobs that will invent themselves or expand that are not directly related to City Center. I probably will not doubt you are right there but I do doubt it will have much of an impact.

For those of you who think those young and older people are making $10/hr working in places like Sears, JC Penny, Drug stores, all banks, C-stores, Clerks and so on should ask around. I promise you they are from $6-9/hr. No benifits at all either. Even the once good paying Home Depot and Lowes pay only $10-11/hr but they get some bennies for that. All Lowes stores have now gone to part time only workers as have the banks years ago.

The rest of your post was about rents skyrocketing while the wealthy who buy homes prosper. How is that good? The low payed people are still SOL ! The rich get richer.

No one here can say in truth that wages will ever go up much. Raises are a thing of the past unless you work for the govt. Historicly when home prices fall it is only till wages catch up. That will not happen again. Low wages are here to stay. What will this do to the current housing situtation? The future economy? None of us know although several of us have our positive thinking ideas. I just can not see a lot of good in the future. Oh things will come around again. But how and when.

[airics]

im not a real estate agent either.. jobs are abundant