Las Vegas, this super-hot summer state with just under 500,000 residents in the 70s, has quadrupled in size in the last 4 decades. Local news stations have reported on a group of Californians moving to the city because it is becoming increasingly difficult to afford to live in their state. The high cost of living is the primary reason Californians leave their home state. For them, Las Vegas is the best solution because it is close, has cheaper housing and there is no government revenue. The average price of a home in Las Vegas is $250,000, which is about a third of the price of a home in Los Angeles and just a quarter of the average cost of a home in San Francisco. Can you imagine if thousands of new residents flocked to Las Vegas and every one of them wanted to buy a new home? Consider the traffic. Is everyone ready to face a Los Angeles-like standoff if it gets too crowded? Many people believe that the housing problem is just one of the many consequences of internal migration. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay In his article “Nevada sees population surge as people leave California in droves,” Tom George said the largest group of new Nevadans are from Los Angeles Angeles. When he visited the DMV office, most of the cars parked out front were from California. George says the Las Vegas economy is currently growing. But the arrival of new residents increases house prices. The law of supply and demand states that a low supply of goods with high demand will increase their price. The Greater Las Vegas Association of Realtors is now experiencing a major supply problem, as people from California move to Las Vegas to buy a home. Maria Ubaldo, a professor at the University of Las Vegas and a 12-year Las Vegas resident, purchased a 3-bedroom home in 2015 with her husband. He bought it for $190,000. He paid $10,000 up front. She still pays her $1200 monthly mortgage. She and her husband have full-time jobs, so they find the price reasonable. His home is now valued at $260,000, a dramatic 27% increase from its previous price. She made nearly $90,000 in real estate equity, a sizable sum considering she only moved there 3 years ago. When asked if she plans to buy another house, she's a little hesitant. For her, this year is not the best time to buy another property. “The real estate market always fluctuates, so I want to wait until the real estate market goes down,” he said. Today, Las Vegans are facing another problem, the rising price of rent in the city. For many Americans and immigrants, buying a home is no longer possible; so most people simply choose to rent a house. But renters see no positive outlook for the coming months as rent prices continue to rise in the valley. I myself am a renter. I came here 2 years ago to do some research on rental prices and see if I can afford to rent a one bedroom apartment. Then I was able to find a one-bedroom house in West Charleston that would only cost me about $650 a month. Today, renting in the same area would cost me about $750 a month, which is a dramatic increase of 23%. I couldn't find any other affordable housing in a safe neighborhood. I realized it would be convenient to simply share the house. From.