Las Vegas, this hot summer state with just under 500,000 residents in the 1970s, has quadrupled in the last 4 decades. Local news stations reported that a group of Californians were moving to the city because it was becoming increasingly difficult to afford to live in their state. The high cost of living is the number one reason Californians leave their home state. For them, Las Vegas is the best option because it is close, has more affordable housing, and there is no state revenue. The average home price in Las Vegas is $250,000, about a third of the price of a home in Los Angeles and only a quarter of the average home cost 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 prepared to face a Los Angeles-like gridlock if there are too many people? Many people believe that the housing problem is just one of many consequences of internal migration. Say no to plagiarism. Get a custom essay on “Why Violent Video Games Should Not Be Banned”? Get an original essay In his article “Nevada Sees Population Increase as People Leave California in Masses,” Tom George said that the largest group of new Nevadans are from Los Angeles. Angeles. When he went to the DMV office, most of the cars parked outside were from California. George mentions that currently the Las Vegas economy is growing. But the arrival of new residents increases the price of housing. The law of supply and demand states that a low supply of goods with high demand will cause prices to rise. The Greater Las Vegas Association of Realtors is now facing a big supply problem as Californians move to Las Vegas to buy a home. Maria Ubaldo, a professor at the University of Las Vegas and a Las Vegas resident for 12 years, purchased a 3-bedroom house in 2015 with her husband. She bought it for $190,000. She deposited $10,000 in advance. She still pays her $1,200 monthly mortgage. She and her husband have full-time jobs, so they find it a reasonable price. His house is now valued at $260,000, a dramatic 27 percent increase from its previous price. She has gained almost $90,000 in home equity, which is a substantial amount considering she only moved there 3 years ago. When asked if she would consider buying another house, she was a little hesitant. For her, this year is not the best time to buy another property. “The housing market always fluctuates, so I want to wait until the housing market goes down,” she said. Vegans today face another problem, the rising cost of rent in the city. For many Americans and immigrants, buying a home is no longer feasible; so most people simply choose to rent a house. But tenants don't see a positive outlook for the coming months as rent prices continue to rise in the Valley. I am a tenant myself. I came here 2 years ago to research rent prices and see if I could afford to rent a 1 bedroom apartment. At the time, I was able to find a one-bedroom house in West Charleston that only cost me about $650 a month. Today, it would cost me about $750 a month to rent in the same neighborhood, which is a dramatic 23% increase. I couldn't find any other accommodation.