As Joe Lombardo ordered Republicans to block a bill limiting corporate home purchases, a Dallas-based, Wall Street-traded firm had accumulated 3,397 rental homes in the Las Vegas Valley — making them one of the largest homeowners in the Valley, second only to a New York-based hedge fund that owns nearly 4,500 homes.
Despite making Nevada’s housing crisis a central part of his 2022 campaign, Lombardo vetoed affordable housing legislation as foreclosure and eviction rates have risen to record levels. Now, Nevada faces one of the toughest housing crises in the nation with homelessness hitting its highest peak since the Great Recession.
A recent survey found that under Lombardo, an overwhelming majority of Nevadans think housing is unaffordable. As median housing prices have reached a record high in Las Vegas, one in three Nevadans have considered leaving the state because of rising housing costs. Adding insult to injury, Donald Trump’s tariffs — that Lombardo supports — will raise the cost to build and purchase a home.
Nevada State Democratic Party spokesperson Kate Sosland:
“Instead of standing up for working families, Joe Lombardo continues to side with billionaires and out-of-state corporations. As Nevadans struggle to afford homes, he’s paving the way for his Wall Street backers to inflate housing costs and exploit the middle class. Make no mistake: this is Lombardo’s housing crisis.”
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