West's Water Worries Increasing

The Western portion of the United States is experiencing its sixth
straight year of severe drought. While the dry spell is worrisome, some
are even more concerned that its end will not mean the end of water
shortages in the area. With increased population and environmental
concerns to contend with, water troubles may loom large for a long time to
come.



Las Vegas Valley Water District officials are trying to change the culture
of how people in the area use water. For example, they are spending
millions to pay homeowners to remove wasteful turf lawns and install more
drought-tolerant landscaping.



Check here for more resources on href="http://lasvegasresourceguide.com/las-vegas-guide.html">what's going
on in the Las Vegas area.

High Las Vegas Land Prices Affect Other Segments of Economy

Las Vegas real estate has been thriving thanks to high land prices and high demand.

However, an article in In Business Las Vegas highlights the effects of high land prices on the industrial segment of the local economy:

During the first quarter of 2005, the industrial market remained strong, but brokers, developers and users of space continue to worry about the effect of land prices on the market sector.

Land prices continue to increase, causing some developers, particularly those building distribution space, to enter (or propose) joint ventures with property owners, Kevin Higgins, senior vice president of Voit Commercial Brokerage said.

"In order for certain developers to afford these new pricing levels, profit-sharing with land owners is the vehicle to continue developing real estate," he said.

Developers also are looking at projects that include more showroom and office space, rather than straight industrial warehouse, to justify land costs and rent, said Mike Lyons, senior vice president of NAI Horizon's industrial division.

Industry leaders caution that continued "down-zoning" of commercial land for residential use could negatively impact the job market in the area.