The Number of Renters per Available Home has Ballooned

First-Time Homebuyers Face Challenges Amid Low Inventory

The journey to homeownership in today’s market has become notably difficult, particularly for first-time buyers. One of the most daunting obstacles is the persistently low supply of homes for sale, creating a fierce competitive landscape. According to Freddie Mac's recent market outlook, there are currently around 30 renter households for every available home for sale in the United States—a significant jump from fewer than 10 per home in 2006. This disparity underscores the intense supply crunch that first-time buyers encounter as they seek to transition from renting to owning.


The roots of this supply shortage trace back to the Great Recession, which sharply curtailed new home construction across the country. Although building activity has slowly picked up since then, it has not kept pace with the growing demand for homes. Freddie Mac estimates the resulting shortfall is at least 1.5 million homes. This shortage not only inflates prices, but also forces new buyers to compete against a growing pool of would-be homeowners, amplifying the challenge of finding an affordable property.


Affordability Woes in the Starter Home Market

Affordability remains a central hurdle. Freddie Mac’s data highlights that from January 2000 to July 2024, the prices of entry-level homes have surged 63% faster than those of higher-end homes. This rapid increase in starter home prices disproportionately impacts first-time buyers, who often lack the substantial savings or wealth that can ease the financial burden of homeownership.


Moreover, historically high mortgage rates are adding to the strain. Following a brief dip in September, 30-year fixed mortgage rates have been on an upward trend, reaching 6.54% by the end of October, according to Freddie Mac. With elevated rates and climbing prices, the dream of homeownership feels increasingly out of reach for many renters.


The American Dream of Homeownership Persists—Despite the Challenges

A recent LendingTree survey underscores this sentiment, revealing that more than half of renters worry they may never achieve homeownership. Among those who want to buy, 65% point to down payment costs as their main barrier, while 52% say that home prices are too high in their desired areas. Additionally, 39% report that their credit score is an obstacle to securing a mortgage.


Even with these barriers, the desire for homeownership remains strong. The survey found that 83% of Americans would prefer owning a home over renting. This preference spans all demographics, including those with annual incomes below $30,000 (76%), Gen Z respondents (79%), and individuals without children (77%).


When asked why they wish to own, most respondents prioritize the personal freedom and stability it brings. Nearly two-thirds want the flexibility to make their own choices about their space, while a similar percentage values the stability that comes with not having to renew a lease. Financial reasons, such as wealth-building and property appreciation, rank lower in importance, cited by only 41% and 44% of respondents, respectively.


Renting vs. Buying: The Cost Comparison

It’s important to remember that while homeownership has many benefits, it comes with costs. In many markets, renting remains more affordable than purchasing a starter home, a consideration that prospective buyers should factor into their decision.


As the housing market remains challenging, the path to homeownership may require patience and strategic planning. For now, understanding these hurdles and planning accordingly can help first-time buyers navigate their options, keeping the dream of owning a home alive despite the odds.

Step Into the Shadows: Exploring Las Vegas’ Mob Museum

July 28, 2025
Tucked away in the heart of Downtown Las Vegas, just steps from the flashing lights of Fremont Street, the Mob Museum offers something wildly different than the typical Vegas experience. Officially known as the National Museum of Organized Crime and Law Enforcement, this one-of-a-kind destination invites you to step into the gritty, gripping world of the American mob—and the people who tried to stop it. Housed in a historic 1930s U.S. Post Office and Courthouse—where real mob hearings took place—the building itself sets the tone. This is no ordinary museum. It’s immersive, intense, and at times, jaw-dropping Your journey begins at the top, tracing the rise of organized crime through Prohibition. Real artifacts tell real stories, including the actual bullet-riddled brick wall from Chicago’s infamous St. Valentine’s Day Massacre. As you make your way down each floor, the exhibits dive deeper into how the mob operated, how Las Vegas became a haven for crime families, and how law enforcement fought back - with wiretaps, undercover agents, and televised trials that captivated the nation. One of the museum’s standout features is its fully restored courtroom, where the 1950s Kefauver Hearings were held - bringing mob activity into the public spotlight for the first time. It’s surreal to sit in the very space where America watched the mob be put on trial. Downstairs, visitors can try hands-on exhibits like a police training simulator, or step into a forensics lab to test their CSI skills. But the real hidden gem is in the basement: The Underground, a fully functioning speakeasy and distillery that serves up Prohibition-style cocktails and house-made moonshine. It's a delicious way to end your tour through history. Beyond the drama and intrigue, what makes the Mob Museum truly special is how educational and engaging it is. It’s not just about the mobsters—it’s about the impact organized crime had on American culture, law, and justice. Whether you're a true crime junkie, history buff, or just looking for something different to do in Vegas, the Mob Museum is a must-visit. It’s raw, real, and fascinating from start to finish. L ocation: 300 Stewart Ave, Las Vegas, NV Hours: Daily 9am–9pm Admission: Starts around $35; discounts available for Nevada residents, students, military & law enforcement Don’t Miss: The Underground speakeasy (open later hour s)

800+ 5-Star Reviews and Counting: Why Las Vegas Trusts McKenna Property Management

July 21, 2025
McKenna Property Management is proud to have earned over 800 five-star reviews on Google — real feedback from property owners, investors, agents, and tenants all across Las Vegas who’ve experienced the difference working with us makes. Led by our owner and broker Jenni McKenna, with over 30 years of local real estate experience, we focus on making property management smooth, efficient, and refreshingly personal. We don’t believe in one-size-fits-all service or sending you in circles with automated systems. When you call our office, you’ll get a live person on the phone — not a robot or endless phone tree. Our team is organized into specialized departments, so whether it’s leasing, maintenance coordination, accounting, or HOA coordination, you’re always connected with the right person who knows how to help. That means quicker responses, clearer communication, and less frustration all around. Owners and investors trust us to handle everything from marketing and tenant screening to rent collection and repairs, helping maximize returns without the usual headaches. Agents feel confident referring clients to us because they know we respect their relationships — when it’s time for their clients to buy or sell, we never interfere or poach. Our focus remains solely on providing top-tier property management, while preserving and protecting their business. And tenants enjoy well-maintained homes, easy online systems, and a team that truly listens and responds. At McKenna Property Management, we treat every property like it’s our own and every person like part of our community. If you’re looking for reliable, experienced property management in Las Vegas with real people and real results, we’d love to connect.

Discovering Fergusons Downtown: Vegas’s Creative Heartbeat

July 14, 2025
Tucked at 1028 Fremont Street, Fergusons Downtown is where the spirit of old Vegas meets the creativity of a new generation. Once a mid-century motel, the property has been transformed into a vibrant community hub that pulses with life, art, food, and connection - a must-visit for anyone seeking the authentic soul of Las Vegas beyond the glow of the Strip. Originally the Franklin Motel in the 1940s and later renamed Fergusons Motel in the ’60s, the site was reimagined in 2019 by the late Tony Hsieh’s Downtown Project. What was once a simple roadside motel is now a full city block dedicated to innovation, small business, and creative risk-taking. The former motel rooms have been turned into studios and retail spaces, now home to an eclectic mix of local businesses. You’ll find everything from Neon Cactus Vintage to plantlovers’ haven LV Plant Collective. For foodies, Fergusons delivers with the Vegas Test Kitchen, a rotating lineup of pop-up culinary concepts that keep things fresh. Highlights include Mothership Coffee Roasters (offering everything from vegan pastries to charcuterie), La Monja for ceviche and housemade tortillas, and Hatsumi for seafood and sake with a Japanese twist. Cocktail lovers can settle into F the Bar, a cozy greenhouse-style lounge serving drinks like the hibiscuslavender “Vegas Playground.” At the center of the space is Big Rig Jig—a towering, 50-foot sculpture made from repurposed oil tankers. It’s bold, unexpected, and the perfect metaphor for what Fergusons stands for: turning the ordinary into something unforgettable. The community vibe continues in The Yard, a grassy gathering space that hosts jam sessions, yoga classes, comedy nights, open mics, and weekend markets. Monthly events like the Hey Maker Market and Pour in the Alley spotlight local artisans, performers, and mixologists, making every visit feel new. Fergusons Downtown isn’t just a redevelopment project—it’s a living ecosystem. It’s where artists, entrepreneurs, families, and visitors collide over coffee, cocktails, creativity, and conversation. It’s a place that proves Vegas is more than casinos and clubs; it’s a city full of soul. If you're ready to experience a different kind of Las Vegas—one rooted in community, creativity, and a touch of magic—step into Fergusons and see what’s blooming in the heart of downtown.