As you may know, Nevada is currently in a buyers market. In 2019, Nevada welcomed the Raiders to the family. Our officials began to build a new stadium and training camp to house our players. It was an expensive addition that single-handedly raised the cost of living in Nevada. The price of homes showed a 117% increase in some areas.

Las Vegas is now a hot spot that is showing true growth potential. The issue is that, once again, the modest man and woman are being double-crossed by the wealthy. Wealthy buyers are purchasing homes for cash and leaving the working class with few options for purchase. It would be fine if these purchases were being made out of genuine interest to begin a life in Las Vegas, but that is not the case. As Las Vegas and its surrounding territories show substantial growth, the opportunity to profit from real estate has risen. Las Vegas is a tourist city, and the Air BnB market is a great way to build your revenue. It is still more affordable to start a life in Nevada versus California, so the city has become a target.

We must give some precedent to the citizens of Nevada that live and work here. We petition the court to create a 'Nevada Local First Option to Buy Statue' that will require that:

a) Buyers show established community ties for a minimum of 1 year;

b) Cash buyers enter a 30-day hold on completing the purchase to allow the opportunity of purchase to be made by a Nevada resident with at least 1-year residency and employment within the city of Las Vegas;

c) Buyers have a 1-year wait time to use the property as a rental or for income.

We, the people of Nevada, will petition the court. We, the people, must work together to protect the integrity and growth of our citizens and community.

Post and share this petition so that we, the people, may move forward with this petition to our courts.