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Las Vegas valley rental inventory now at around 2680 from 500 in 2021. Would this drive down rent prices and home values?

It’s evident people are getting evicted now that Covid protections are over but there’s no media coverage on this. What do you guys think the outcome of this will be over the next 1-3 years? Feels like rent and home prices will trend down along with all the other macro and geopolitical problems recently. Wages are also now very negative adjusted to rent and mortgage inflation. Along with 1.7 million new home completions by the end of this year, the foreclosure wave that finally may hit this year, and surging interest rates, I’m not very confident buying for a few years until this plays out.

submitted by /u/killpedophile
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source https://www.reddit.com/r/RealEstate/comments/svbjxm/las_vegas_valley_rental_inventory_now_at_around/
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