FOX5 Experts: Economic analyst on coronavirus relief and Las Vegas pandemic recovery
LAS VEGAS, Nev. (FOX5) - The recently-passed COVID-19 relief bill is projected to give Las Vegas a much-needed economic boost, according to economic analysts.
Jeremy Aguero, principal analyst with Applied Analysis in Las Vegas estimates approximately $10 to $15 million will flow into the community. His prediction looks beyond stimulus checks and extended unemployment.
Aguero performs economic forecasts that are used widely by Las Vegas, Henderson, Station Casinos, Boyd Gaming and the Ultimate Fighting Championship.
Aguero said he expects the latest round of relief to be enough to get people on the other side of the pandemic. He said we are halfway through an 18 to 36-month long recovery and that Las Vegas is well-positioned for recovery given the pent-up demand for travel.
Aguero said he doesn’t believe there will be a housing collapse, but demand will soften as interest rates rise and housing affordability will become an issue.
Las Vegas was on the upward trend prior to the relief bill passing. Aguero discussed the risks of pumping too much money into the economy.
Aguero said inflation will have to be monitored. He said the $5 trillion in stimulus will have to be paid back, but it will be easier to do with the economy on stable ground and not reeling from the COVID-19 crisis.
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