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- 🏡 Tariff Pause Provides Temporary Relief, But Housing Market Faces Uncertainty
🏡 Tariff Pause Provides Temporary Relief, But Housing Market Faces Uncertainty
Issue #426 - February 5 2025
John Wu
05 Feb
Dear SummerSouth Insiders!
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Download the Free CheatSheet to learn more.
📆 Weekly Local Events for February 2025
Regular weekly events in or near Summerlin, Las Vegas are listed below.
Visit here to lookup specific venue information or for upcoming and/or non-weekly events on Meetup.
Monday
Monday Classes At Latin Blendz: (Every week on Monday @ 10AM)
Socially Vegas - Monday Night Bowling @ The Orleans Bowling Center: Must arrive/check-in before 7pm; 7 - 10pm (Every week on Monday); COST (CASH Only) $10 for 2 games (includes shoes) COST: $12 for 3 games (includes shoes)
Monday Night TRIVIA at ReBAR, 1225 S Main St, Las Vegas: (Every week on Monday @ 7PM)
Tuesday
Sand Volleyball Intermediate, Rusty and Old Time Players @ Aloha Shores Park (NW), Cheyenne & Buffalo, 7550 Sauer St, Las Vegas: (Every week on Tuesday @ 6 - 8 PM)
Run Drink Las Vegas - Weekly Tuesday Run @ Frankie’s Uptown patio: 7PM (Every week on Tuesday), FOLLOW US ON INSTAGRAM @rundrinklv FOR THE LATEST WEATHER/TIMING UPDATES
Wednesday
Business Leads Group - Networking Breakfast @ Summit Restaurant, Eagle Crest Golf Course, 2215 Thomas W Ryan Blvd, Las Vegas: Cost $20 cash, 7 - 8:30 AM (Every week on Wednesday)
Early Risers Toastmasters Meeting (In-Person - Summerlin Egg Works / Online Event: 7 - 8 AM (Every week on Wednesday)
Las Vegas Valley Bicycle Club - Wednesday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Wednesday)
Speakers & Leaders of Summerlin Toastmasters Meeting, Summerlin Egg Works, 2025 Village Center Cir, Las Vegas: 12 - 1:30 PM (Every week on Wednesday)
Thursday
Abundance Business Networking Group Online Event: 7 - 8:30 AM (Every week on Thursday). Please arrive 10-15 minutes early for networking. Steps to access our BNI Online™ Virtual Chapter Meeting, visit website.
Las Vegas Real Estate Investors Association - Weekly Power Lunch For Real Estate Investors: 11 AM - 1 PM (Every week on Thursday). Request to join here.
Free Salsa Classes @ Feel The Music Dance Studio: 7 - 8 PM (Every week on Thursday). Visit the website to register online.
Summerlin Bitcoin Happy Hour, SG Bar, 9580 W Flamingo Rd, Las Vegas: 6:30 PM (Every week on Thursday)
Coed Soccer - Summerlin: Crossings Park, 1111 Crestdale Ln, Las Vegas: 7:30 - 9:45 PM (Every week on Tuesday/Thursday)
Friday
Find Your Yoga Las Vegas - Flow & Yin W / Noé Hilyard @ Yoga Sanctuary: 6 - 7:15 PM (Every week on Friday) View Yoga Sanctuary's full schedule.
Swing Dancing in Las Vegas Vintage and Modern Swing Dances @ The Mint Tavern: 7:30 - 8:30 PM (Every week on Friday)
Saturday
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Find Your Yoga Las Vegas - Saturday Morning Meditation with Practitioner Selina Kelly @ Yoga Kandy, LLC. Cost: Love Donation $5-$10 suggested. 11 - 11:45 AM (Every week on Saturday)
Sunday
Las Vegas Valley Bicycle Club - Sunday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Sunday)
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Level 1 West Coast Swing @ 2580 N Rancho Dr, North Las Vegas: 7 - 8 PM (Every week on Tuesday); Drop in Rate is $15, Monthly pass is $50; Register online.
⛽ Las Vegas Gas Prices
🏡 Tariff Pause Provides Temporary Relief, But Housing Market Faces Uncertainty
American tariffs on imports from Canada and Mexico were scheduled to take effect Tuesday before a 30-day pause was agreed upon by President Donald Trump. Meanwhile, a 10 percent tariff on Chinese goods has already been implemented, sparking concerns about the potential effects on the U.S. economy and housing market.
Immediate Effects on the Mortgage Market
The tariff announcement has already caused shifts in financial markets, with many investors seeking safer assets like bonds. This move has temporarily benefited mortgage rates, as increased demand for bonds has driven down yields. According to Matt Hennessy, a Las Vegas mortgage advisor, mortgage bonds and rates have responded favorably, creating a brief window of relief for the housing market.
However, experts caution that this benefit may be short-lived. If tariffs contribute to rising inflation, mortgage rates could climb, making it more expensive for potential homebuyers. The current 30-year fixed-rate mortgage stands at 6.9 percent and has not fallen below 6 percent since September 2022. Mortgage rates are closely tied to the performance of the 10-year Treasury note, which is considered a stable long-term investment compared to the volatility of the stock market.
Las Vegas Housing Market on Standby
The Las Vegas housing market is adopting a cautious approach as it evaluates the potential impact of the trade war. George Kypreos, president of Las Vegas Realtors, emphasized the market’s resilience but acknowledged the uncertainty surrounding the tariffs.
Local homebuilders are particularly concerned about how the new tariffs could affect construction costs. The National Association of Home Builders (NAHB) recently sent a letter to President Trump highlighting how building expenses have already risen by 30 percent since January 2021 due to global supply-chain issues. The NAHB warned that additional tariffs on Canadian and Mexican materials could exacerbate the housing affordability crisis, which the administration has prioritized addressing.
The letter emphasized the need for coordinated efforts to address construction challenges, whether related to regulatory hurdles, labor shortages, or supply-chain disruptions.
Ongoing Challenges in Las Vegas
Las Vegas is already dealing with a significant housing crisis, driven by several factors that have pushed home prices close to record highs. These challenges include:
Challenge | Details |
|---|---|
Limited Land Supply | Federal government ownership of most available land restricts opportunities for development. |
Regulatory Delays | Slowdowns at the municipal and county levels impact project approvals and construction times. |
Rising Construction Costs | Inflation and supply-chain issues have increased labor and material expenses. |
Elevated Mortgage Rates | With rates near 6.9 percent, affordability concerns remain significant for buyers. |
Looking Ahead
While the 30-day pause on tariffs offers temporary relief, the long-term implications remain uncertain. The housing sector will be watching closely to see whether additional trade policies drive further inflation or create more supply-chain bottlenecks. Without intervention, these challenges could further strain housing affordability in Las Vegas and across the country.
Industry experts continue to advocate for solutions that address regulatory obstacles and construction costs, but for now, the local market remains in a holding pattern, waiting to see how the situation evolves.
🏒 Golden Knights Drop Fourth Straight Game in 2-1 Loss to Islanders
The Golden Knights’ recent struggles continued Tuesday night, with a 2-1 defeat to the New York Islanders at UBS Arena. Despite dominating much of the game, including outshooting New York 34-14, Vegas couldn’t capitalize on key opportunities, extending their winless streak to four games and worsening their 14-game skid to 3-8-3.
Brandon Saad, the team’s newest acquisition, made an impact, scoring the game-tying goal in the third period—his first since signing with the Knights. However, the Knights’ momentum quickly evaporated as the Islanders reclaimed the lead just three minutes later and held on for the win.
Key Moments
Brandon Saad’s goal came at 7:40 of the third period when he buried a rebound from a Nic Hague shot, tying the game at 1-1. It was a brief moment of relief for Vegas before Islanders center Brock Nelson tipped a shot past Adin Hill at 10:43 to regain the lead, which the Islanders wouldn’t relinquish.
Despite the Knights’ dominance in puck possession and shots on goal, they couldn’t break through New York goalie Ilya Sorokin, who delivered another stellar performance. Sorokin has now stopped 63 of 64 shots in two meetings with Vegas this season.
Coach Bruce Cassidy highlighted that New York’s game-winning goal wasn’t the result of defensive lapses or poor decision-making. Instead, it was a classic example of "puck luck" as the Islanders capitalized on a deflection—something the Knights have struggled to achieve during their current slide.
Missed Opportunities
Throughout their recent 14-game stretch, the Knights have frequently found themselves on the wrong side of close contests. Ten of their 11 losses during this period were decided by one goal or went to overtime, demonstrating their inability to close out games or earn crucial points.
Nicolas Roy lamented the team’s lack of offensive production, especially on the road, saying, “You’re not going to win a lot of games when you score one goal.”
Takeaways from the Game
Key Takeaway | Details |
|---|---|
1. Saad Makes an Impact | Brandon Saad scored his first goal with the team, tying the game in the third period, but it wasn’t enough to secure a win. The 32-year-old signed with Vegas after being released by the St. Louis Blues. |
2. William Karlsson Out of 4 Nations | William Karlsson’s lower-body injury will prevent him from competing in the upcoming 4 Nations Face-Off. He is the second Knights player to withdraw, joining Alex Pietrangelo, who is also dealing with injuries. |
3. Sorokin’s Dominance | Islanders goaltender Ilya Sorokin continued his mastery of the Knights, allowing just one goal across two games this season. His 30-save shutout on Jan. 9 set the tone for his latest performance. |
4. Close-Game Woes | The Knights have struggled to seal games, with 10 of their 11 recent losses being one-goal contests or decided in overtime. Their inability to convert late-game opportunities has cost them valuable points. |
Looking Ahead
The Knights will look to snap their four-game losing streak when they face the New Jersey Devils on Thursday. As they approach the midpoint of their four-game road trip, Vegas must address their scoring issues and defensive lapses if they hope to turn things around.
U.S. aid staff worldwide were thrown into turmoil after a sudden Trump administration order to shut down nearly all operations of the U.S. Agency for International Development (USAID). The move left thousands of staffers scrambling to pack their belongings, withdraw children from schools, and prepare for immediate relocations without clear guidance.
Democratic lawmakers, USAID supporters, and agency workers reacted with shock and anger as the independent government agency, which has played a key role in global humanitarian and development efforts for 60 years, faced abrupt dismantling. Protests erupted in Washington, and embassy town halls around the world were convened to address the chaos and uncertainty.
Shutdown Leaves Workers Vulnerable
Embassy officials admitted they had no specific instructions for affected staff, especially local hires. Many workers were blocked from accessing government systems, including emergency communication tools. One USAID contractor stationed in a violent region of the Middle East described feeling cut off from vital lifelines, unable to rely on the government for emergency support.
Although the administration promised to safely bring employees home within 30 days, many feared being left stranded or forced to arrange their own return. Employee networks previously used to help staff leave danger zones were quickly reactivated.
Impact on Global Aid Programs
The shutdown is expected to halt billions of dollars in critical projects across 120 countries, affecting security aid for Ukraine, clean water initiatives, job training, education programs, and life-saving efforts such as HIV/AIDS relief in South Africa. Health programs credited with combating global epidemics like smallpox and polio have been stopped, along with rapid-response initiatives for outbreaks such as Ebola.
South African officials were blindsided by the funding freeze for their HIV/AIDS program, which depends heavily on U.S. contributions. The country has the world’s largest population of people living with HIV, and the U.S. typically funds 17% of its $2.3 billion-a-year program through the President’s Emergency Plan for AIDS Relief (PEPFAR).
Mass Layoffs and Frozen Funding
Most USAID staffers were informed via an online notice that their employment would end before midnight Friday unless classified as essential. Direct hires received 30 days to return home, while contractors were fired immediately. The agency’s Washington headquarters was shut down, and most senior leadership was placed on leave.
The cuts were part of broader efforts by the Trump administration and Elon Musk’s Department of Government Efficiency to slash federal spending and downsize programs deemed unnecessary or misaligned with conservative policies. Musk claimed credit for the move, boasting about dismantling USAID on social media.
Outcry from Supporters
Democratic lawmakers and other USAID supporters argue that the agency’s role is vital for U.S. foreign policy, helping to counter the influence of adversaries like Russia and China while strengthening alliances. They maintain that USAID’s status as an independent agency, protected by law, means it cannot be dissolved without congressional approval.
Demonstrations gathered hundreds outside the U.S. Capitol, where several Democratic representatives pledged to fight the decision. The American Foreign Service Association, representing U.S. diplomats, announced plans for legal action to reverse the order.
However, locally employed USAID staff—many without federal protections—were left with limited options. Workers and their families faced tough choices, such as pulling children out of school midyear or giving up pets to meet the relocation deadline.
Costly Withdrawals and National Interests
The government will face tens of millions of dollars in relocation and travel costs due to the sudden withdrawal of personnel. The shutdown came as Secretary of State Marco Rubio toured Central America, visiting key USAID missions. Rubio emphasized that while he supports foreign aid, the administration’s focus is on ensuring that every dollar spent advances U.S. national interests.
Exemptions will be given to workers responsible for critical functions or specially designated programs, with notifications expected by Thursday afternoon.
The notice, which marked the end of operations for most USAID staff, concluded with a brief message: “Thank you for your service.”
🏈 Las Vegas Faces Lower Demand for Super Bowl Weekend 2025
Las Vegas won’t experience the same economic boost it saw last year during its first time hosting the Super Bowl. With this year’s game being held two time zones away in New Orleans, the city is preparing for a quieter weekend as hotel rates and visitor demand fall significantly below 2024 levels.
Hotel Rates Signal Lower Demand
A recent survey by the Review-Journal revealed that the average hotel rate for Super Bowl weekend in Las Vegas is $157.75 per night, more than $100 lower than last year’s rates. In 2024, hotel prices had soared to $443.84 per night three weeks before the game, eventually settling at $288.82 in the final week leading up to the event.
Currently, many Strip hotels are offering rooms under $100 per night. Properties like The Linq ($82), Flamingo ($69), and Circus Circus ($32) have drastically reduced prices, reflecting the decreased demand. Luxury hotels, which previously charged rates nearing $1,000 per night, have also lowered their prices. Wynn and Encore Las Vegas are offering rooms at $279, Bellagio at $260, and Caesars Palace at $169.
Downtown Las Vegas hotels have seen a similar trend, with an average rate of $139.92 per night. Notable deals include Circa at $189, Downtown Grand at $171, and The D at $99.
Vegas Still a Super Bowl Destination
Despite not hosting the game this year, Las Vegas remains a popular destination for Super Bowl viewing. The city has a long-standing reputation for hosting large watch parties with massive screens, top-tier dining, and the convenience of on-site sports betting. Even with the rise of legal sports betting in other states, fans continue to be drawn to Las Vegas for events like the Super Bowl and March Madness.
Experts predict Las Vegas could surpass visitor numbers seen in 2022 and 2023, though it won’t come close to matching the surge it experienced last year. The city’s appeal lies in offering social viewing experiences that are difficult to replicate at home, along with world-class amenities and entertainment options.
Potential Obstacles for Tourist Turnout
Several factors may impact Las Vegas’ visitor numbers this weekend. Southern California, which typically accounts for about a third of the city’s tourists, is still recovering from recent wildfires. Additionally, rising travel costs and frustrations over the growing expenses of visiting Las Vegas could deter some potential visitors. Complaints about high food prices, expensive drinks, and fees for parking and resorts have become increasingly common on social media.
One user described how the combination of rising costs and parking fees led to fewer visits, despite being a frequent visitor in the past. While some resorts offer free parking for guests, others continue to charge, adding to the frustration.
With these challenges and reduced demand, Las Vegas is likely to see a more subdued Super Bowl weekend compared to the record-setting excitement of 2024. However, the city remains optimistic that its reputation as a premier destination for sports events will continue to draw fans looking for an unforgettable experience.
♥ Valentine’s Day Dining Guide: Specials and Prix Fixe Menus Across Las Vegas
Las Vegas restaurants and bars are rolling out lavish dining experiences, romantic prix fixe menus, and exclusive cocktails for Valentine’s Day celebrations. From luxurious multi-course meals to themed cocktails, here’s a roundup of top offerings around town.
Restaurant/Location | Special Menu/Details | Cost | Timing |
|---|---|---|---|
Ada’s Food + Wine (Tivoli Village) | Four-course menu with wine pairings or eight-course chef’s counter tasting menu with wine pairings | $125 (4-course) / $250 (8-course) | 5 to 9 p.m. |
Amari Italian Kitchen (UnCommons) | Antipasti, ricotta gnudi, scallops, braised beef cheek, and date torta | $75 | 5 to 10 p.m. |
Aroma Latin American Cocina | Three-course Latin American menu (ceviche, carne guisada, tres leches), half-off wine bottles, two-for-one cocktails | $60 | 5 to 9 p.m. |
Barry’s Downtown Prime (Circa) | Five-course menu featuring black truffle risotto, chilled seafood platter, caviar, surf and turf, and red velvet cheesecake | $169 | 5 to 11 p.m. |
Basilico Ristorante | Five-course menu with amuse-bouche, red beet salad, saffron risotto, turbot or ribeye, and cheesecake; optional wine pairings | $79 (menu) / $45 (wine pairings) | 4 to 9 p.m. |
Bottiglia Cucina (Green Valley Ranch) | Saffron lobster arancini, seafood pasta, veal tenderloin, roasted branzino, and passion fruit-filled chocolate heart dessert | $19-$139 | 4 to 10 p.m. |
Brio Italian Grille (Town Square) | Three-course menu: choice of salad, pasta or protein entrée, caramel mascarpone cheesecake | $69.99 (for two) | 11 a.m. to 10 p.m. |
Ciao Vino Ristorante (Boca Park) | Bigeye tuna crudo, lobster ravioli, pork duo, dark chocolate crémeux, panna cotta, and tiramisu | $12-$59 (itemized specials) | 4 to 10 p.m. |
Don Vito’s (South Point) | Three-course Italian menu, multiple entrée choices including lobster ravioli and rolled tenderloin, plus a bottle of wine | $49 per person | 5 to 10 p.m. (Feb. 13-15) |
El Dorado Cantina | Surf and turf dinner for two featuring lobster tails, filet mignon, mashed potatoes, and sparkling wine | $110 per couple | 24/7 |
Edge Steakhouse (Westgate) | Three-course menu featuring tomahawk ribeye, king crab legs, and strawberry mousse for dessert | $125 | 5 to 10 p.m. |
Ferraro’s Ristorante | Four-course Italian menu (crab cake, lobster risotto, osso buco, branzino, filet mignon) | $145 | 4 to 10:30 p.m. |
Harlø Steakhouse (Downtown Summerlin) | Three-course menu with oysters, foie gras, scallops, and 18-ounce Angus ribeye | $165 | 3:30 to 10:30 p.m. |
Honey Salt | Prosecco toast, four-course meal with options like baked brie, halibut, steak, and chocolate cheesecake | $95 | 4:30 to 9:30 p.m. |
Lawry’s The Prime Rib | Surf and turf options with filet mignon, lobster tail upgrades, and baked Alaska for dessert | $83-$92 (varies by entrée) | Feb. 13-16 (call for hours) |
One Steakhouse (Virgin Hotels) | Oysters Rockefeller, foie gras-topped filet, and “One Love” rum cocktail | $36-$82 (itemized specials) | From 5 p.m. |
Oscar’s (Plaza) | Three-course menu featuring potato leek soup, lobster-wagyu surf and turf, and chocolate mousse bombe | $150 | From 5 p.m. |
Pancho’s Mexican Restaurant | Special menu for two with guacamole, tacos, churros, and margaritas | $117 per couple | From 11 a.m. |
Sammy’s Restaurant & Bar | Menu for two with salads, choice of entrées, dessert, and wine | $125 per couple | Through Feb. 28 |
Scotch 80 (Palms) | Love Potion cocktail, tiger prawn scampi, ribeye, Chateaubriand for two, and strawberry pavlova | $15-$125 (itemized specials) | 5 to 10 p.m. |
Silverado Steakhouse (South Point) | Four-course menu, multiple entrée options, and dessert, with wine included | $66 per person | 5 to 10 p.m. (Feb. 13-15) |
Sushi Roku (Forum Shops) | Five-course sushi menu with seafood trio, ribeye japonaise, tuna roll, and strawberry crème brûlée | $196 per couple | Noon to 10:30 p.m. |
Top of the World (The Strat) | Diver scallops, lobster ravioli, chocolate fondue, and premium Champagne | $17-$90 (itemized specials) | Feb. 14-16 (from 4 p.m.) |
Vetri Cucina (Palms) | Duo tasting menu featuring fried artichokes, ribeye carpaccio, lobster, veal osso buco, and chocolate tart | $195 (menu) / $95 (wine pairings) | 5 to 10 p.m. |
Wakuda (The Venetian) | Eight-course menu featuring Japanese wagyu, tempura, and shellfish | $225 | 5 to 11 p.m. |
Valentine’s Day in Las Vegas offers a range of dining experiences, from lavish multi-course gourmet meals to romantic cocktails. Whether you’re indulging in decadent seafood or premium cuts of steak, reservations are essential to secure a spot at any of these exclusive events.
Summerlin South, NV Demographics
What is the population of Summerlin South?
What are the employment statistics in Summerlin South?
How many households are there in Summerlin South?
What are the median and average incomes in Summerlin South?
How many homeowners and renters are there in Summerlin South?
What is the level of education in Summerlin South?
What is the marital status of Summerlin South residents?
What are the most common means of transportation in Summerlin South?
Methodology & Disclaimers
Demographic data shown in this section was gathered from the latest U.S. Census Bureau release, the 2022 American Community Survey. The information is updated yearly, as soon as new data is made available by the US Census Bureau.
No representation, guarantee or warranty is made as to the accuracy or completeness of information modified or aggregated for specific neighborhoods and/or zip codes.
Zip codes included in this demographic data: 89135
📌 🏠 Summerlin South - January 2025
*Median Sold Price By Bedroom Count
This is the middle price for which all homes in the area were sold based on the number of bedrooms. Half of all the homes sold were below this price, and half were above.
Visit here to see the entire report.
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Until next time, John Wu.