Just as the federal bailout plan was passed and signed into law today, look at what happened next regarding California and New York with regard to their financial situation.
Both states declared they are in financial trouble. California sent a request to U.S. Treasury Secretary Henry Paulson for a $7 Billion bailout to rescue to pay "teachers' salaries, nursing homes, law enforcement and every other state-funded service" this month, Gov. Arnold Schwarzenegger warns as stated on CNNPolitics.com today. If California doesn't get this bailout then won't taxes increase for Californians to pay down the state's debt?
We've seen this scenario in the past when the two governors of Nevada and California began aggressive marketing campaigns to educate (and to to counter such ads) California businesses and residents as to why Nevada is the better place to grow your business and live. With no state income tax, Nevada is well positioned to once again take full advantage of California's high tax and deficit situation.
Nevada saw a huge influx of luxury single family real estate and luxury high rise condos in 2005 as a result of Californians moving or investing in Nevada real estate, especially in Las Vegas. So why wouldn't you not expect this to happen again?
Consider that right now you can buy a one bedroom luxury condo on the Las Vegas Strip in Sky Las Vegas under $300,000 and no state income tax. With a low cost of living, great climate and low real estate prices in comparision to California, seems like Las Vegas is positioned for a huge spotlight of low cost opportunity by the media. At Luxury Realty Group in Las Vegas, we are fully prepared to assist your buyers with the latest list of luxury real estate opportunities.
Contact Bruce Hiatt at (702) 456-7080 x201 and let's create a referral opportunity for your buyer and Luxury Realty Group. Keep in touch with the latest Las Vegas luxury high rise trends at LasVegasHighRiseBlog.com
Luxury Realty Group is recognized by the press as a leading brokerage on the Strip. They can be seen on networks and in publications such as CNBC, Forbes Magazine, Details, LV Business Press, Wall Street Journal, The Review Journal, Los Angeles Times and USA Today.
Disclaimer: All information contained within this post is subject to change without notice. Subject matter is not guaranteed and is often considered time-sensitive.