Recently, I tripped on a defective structure in Reno, fell and broke my hip. An ambulance took me to Renown Hospital, where I got great treatment from a wonderful staff and left four days later with my sainted wife Kathy driving. With me benefiting from strong pain meds and feeling relief and optimism on a sunny day, I waxed philosophical. I noted how smooth were the streets … [Read more...] about Free Market Watch
Monthly Editorial Departments
Around the StateJune 2023
UNR Wins NSF Engines Development Award The University of Nevada, Reno (UNR) has been awarded a Type-1 Engine award which consists of approximately $1 million from the U.S. National Science Foundation’s Regional Innovation Engines (NSF) program. UNR is one of 44 teams to receive one of the first-ever NSF Engines Development Awards. The intention of the program is to help … [Read more...] about Around the State
Commercial RE ReportOffice Summary First Quarter 2023
Northern Nevada By Jordan Lehman, Colliers | Reno Northern Nevada’s commercial real estate market experienced a shift in Q1 2023 with softening tenant demand, an uptick in sublease availability and a decline in investment sales. The region has seen continued growth in available sublease office space as tenants have added more square footage to the sublet market. Available … [Read more...] about Commercial RE Report
Business IndicatorsJune 2023
The advance estimate of U.S. real gross domestic product (GDP) for 2023Q1 increased by an annualized 1.1 percent, slowing from 2.6 percent in 2022Q4 amid rising interest rates. The weaker real GDP increase mainly reflected reduced business inventories, which were offset by robust consumer spending. Consumer spending lost momentum for the last few months, which may signal a … [Read more...] about Business Indicators
Free Market WatchA Toxic Belch of Swamp Gas from the Regulatory Marsh
Another belch of environmental swamp gas is rising from the depths of the federal regulatory marsh. Of course, it looks and sounds so innocent, benign and even beneficial - something Nevada investors, businesses, public investment funds, investment fund managers and citizens should welcome, not fear. But it is toxic to all of them and thus to our economy and the public … [Read more...] about Free Market Watch
Around the StateMay 2023
RTC Southern Nevada Receives Federal Funding to Promote Efficiency The Regional Transportation Commission of Southern Nevada (RTC) has been granted $2 million in federal funding as part of the U.S. Department of Transportation’s inaugural Strengthening Mobility and Revolutionizing Transportation (SMART) program. The program was created to advance transportation and … [Read more...] about Around the State
Commercial RE ReportIndustrial Summary First Quarter 2023
Northern Nevada By Angel Orozco, CBRE The Reno Industrial market finished Q1 2023 with strong market fundamentals, posting the 14th consecutive quarter of positive net absorption. Reno continues to be one of the most active development markets in the country due favorable tax haven and proximity to all Californian markets. Market-wide vacancy and availability rose … [Read more...] about Commercial RE Report
Business IndicatorsMay 2023
The third estimate of U.S. real gross domestic product (GDP) for 2022 Q4 expanded by 2.6 percent annualized rate, falling by 0.1 and 0.3 percent from the second and advanced estimates, respectively. Overall, the real GDP increase reflected increases in business inventories, consumer spending on services, and government spending, which were partly offset by decreases in business … [Read more...] about Business Indicators
Free Market WatchGov. Lombardo’s Solutions for Nevada Education
Governor Joe Lombardo has proposed record funding for Nevada education: billions of dollars in increases. He also did two other important things. First, he said our PK-12 public-school monopoly would be held to measurable improvements in student achievement or their funding increases will be reconsidered. Thus, we won’t repeat the key mistake of the past: throwing money … [Read more...] about Free Market Watch
Around the StateApril 2023
GOED Approves Tesla Abatement The Nevada Governor’s Office of Economic Development (GOED) approved a $330,250,366 tax abatement for Tesla. The company’s first abatement was approved in 2014 and, as a result, Tesla will begin paying an annual minimum of $53 million in real and personal property taxes and modified business taxes beginning July of next year. Since that … [Read more...] about Around the State
Commercial RE ReportRetail Summary Fourth Quarter 2022
Northern Nevada By Gary Tremaine, Dickson Commercial Group The fourth quarter sales volume for Q4 2022 saw a slight increase in comparison to the prior quarter, with an increase of nearly $8 million, but the year ended up with much lower transaction volume in 2022. There was a decrease in both volume and number of sales in 2022, but a slight increase in the average price … [Read more...] about Commercial RE Report
Business IndicatorsApril 2023
The second estimate of U.S. real gross domestic product (GDP) for 2022 Q4 grew by an annualized 2.7 percent, falling by 0.2 percent from the advance estimate released at the end of January. The 2.7-percent real GDP increase reflected restocked inventories and robust consumer spending on services, which were partly offset by decreases in business investment and consumer spending … [Read more...] about Business Indicators
Free Market WatchEconomic Inequality, Poverty and Income Stagnation
With Nevada’s legislature and the U.S. Congress now in session, folks hear constantly about economic inequality (the rich getting richer and poor getting poorer), growing poverty, the stagnation of most incomes, and needs for more income redistribution. The inequality myths were roundly rebutted in the last Controller’s Annual Report (CAR) in 2018 (full disclosure: authored by … [Read more...] about Free Market Watch
Around the StateMarch 2023
Six States Agree to Colorado River Cuts Nevada, along with five other states within the Colorado River Compact have agreed to a proposed series of Colorado River cuts. The agreement was sent in a signed a letter to the U.S. Bureau of Reclamation in an effort to curb regional water usage ahead of the federal government’s review. California was noticeably absent from the … [Read more...] about Around the State
Commercial RE ReportOffice Summary Fourth Quarter 2022
Northern Nevada By Jordan Lehman, Colliers | Reno Reno’s office market saw continued positive net absorption, decreased investment sales and an uptick in sublease availability in the fourth quarter of 2022. Fourth quarter net absorption of nearly 32,000 square feet pushed annual net absorption to almost 129,000 square feet. Though the region has tallied six consecutive … [Read more...] about Commercial RE Report