Since this site was born we’ve discussed many aspects on the importance of the NHL’s expansion to Las Vegas. From the impact on youth hockey to community pride to the effect on hockey betting to the simple fact that Las Vegas has grown up, we’ve really touched it all. Until today, when I found an article discussing NHL expansion from a completely different perspective.
How the Las Vegas home market will benefit from the NHL expansion team. –Scott Beaudry, Marketwatch.com
That’s right, not only are we getting our first major professional sports franchise, but our home prices are going to soar as well!
The article gives reasons such as an influx of jobs created by the team, rich hockey players moving in, and the organization’s likelihood to reinvest in the community. But it was this stunning fact that really jumped off the page for me.
The last time the National Hockey League expanded for the 2000-2001 season, Columbus, Ohio, experienced continuous population growth of 10% over the decade following the introduction of the National Hockey League team. If Las Vegas had similar results, we could see as many as 60,000 people joining our community. And with all of these big-name hockey pros moving to Las Vegas, undoubtedly we’ll also see high-end growth in the housing market. -Beaudry
And that’s talking about Columbus, Ohio, not the Entertainment Capital of the World, Las Vegas. A while ago I chronicled the almost incredible growth of the city of Las Vegas, but I never expected to see this type of impact from just adding an NHL team.
George McPhee really hit the nail on the head when discussing his first impressions of the city since taking the GM job in Vegas.
You know what, it sounds a little ironic, but for a place that has 40 million people a year coming to it from all over the world, and has a great name and a great brand, the rest (of the city) might be the best kept secret in the country. -George McPhee
It’s just one more thing to get excited about for everyone who live and own a home in Las Vegas already. And for those of you who don’t, I know the perfect place to get a home loan. (I swear I didn’t write this article to work this in, it just happened to fit, it’s not my fault. Shut up and get a home loan.)
Las Vegas is preparing for a cycle of wealth. And with the Las Vegas and the NHL bringing jobs, this will in turn increase the housing demand with additional families moving to the Valley. And, of course, improvements in the city will drive up property values, and that’s the kind of monetary math we can get behind. With Las Vegas and the NHL, it’s a sure bet that Lady Luck is on our side. -Beaudry
What else does he need to say? We’re all gonna be rich!!!
Especially construction business owners…….