The housing price crisis results from high demand and low supply. The solution is simple, right? Just build more houses to increase supply. Unfortunately for Nevada, outside factors have contributed significantly to the crisis, including higher interest rates, inflation, a lack of land, and an influx of new residents.
So, how do we overcome these challenges? First, Nevada needs more land, which means we need to expedite the sale of federal land to the State at a discounted rate to open new housing areas. Second, we need to leverage innovations in homebuilding materials that quickly increase the supply of energy-efficient homes. Third, the process of buying and selling a home needs to be streamlined, inexpensive, and able to keep up with modernized practices, which can be done by moving the Nevada Real Estate Division to a fee-based budget instead of funding through the General Fund. Doing so, allows the Division to work at the speed of industry rather than the speed of legislators.
Rental Costs
Home rental is a high-risk, low-margin business, often family-owned and managed. When homeowners are forced to house those who don't pay rent, they will take their homes off the market. Fewer rentals mean higher costs and increased homelessness. Nevada must continue summary judgments for rental evictions to keep the supply of available homes on the market. Though I am sympathetic to those struggling to pay rent, I believe they will be better served when the State supports organizations that provide housing support and wraparound services to help them get back on their feet instead of “fixing” homelessness by prolonging the eviction process. Streamlined eviction increases the number of diverse rental properties and keeps rental costs competitive.
As your State Senator, I will champion and support legislation that:
