[New City V]

Originally Posted by ackackack

When Las Vegas is referred to it typically means the surrounding areas as well.

When it comes to real estate, I wouldn't jump so quickly to that conclusion. For instance using year 2000 statistics, home ownership percentages were quite different between areas within the "city of Las Vegas" and metro areas outside the city boundaries.

Within Las Vegas city limits:

home ownership ranged from a low of 41% in the "Winchester" township to a high of 59% in "Las Vegas".

Outside Las Vegas city limits:

home ownership ranged from a low of 62% in Sunrise Manor to a high of 85% in Summerlin South.

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[asik]

Bankruptcies and foreclosures will certainly increase over the next couple of years due to the higher debt level than the summer of 1929. Seriously.
Posters in the forum involved in real estate will deny, deny deny, but they are just trying to lure more suckers to buy an overpriced house, especially compared to wages.

[lvkewlkid]

Originally Posted by New City V

When it comes to real estate, I wouldn't jump so quickly to that conclusion. For instance using year 2000 statistics, home ownership percentages were quite different between areas within the "city of Las Vegas" and metro areas outside the city boundaries.

Within Las Vegas city limits:

home ownership ranged from a low of 41% in the "Winchester" township to a high of 59% in "Las Vegas".

Outside Las Vegas city limits:

home ownership ranged from a low of 62% in Sunrise Manor to a high of 85% in Summerlin South.

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Winchester isn't within Las Vegas city limits,
so the low of 41% in Winchester to a high of 85% in Summerlin South would be more correct

[New City V]

Originally Posted by lvkewlkid

Winchester isn't within Las Vegas city limits,
so the low of 41% in Winchester to a high of 85% in Summerlin South would be more correct

The older, more established areas of the valley, Winchester at 41%, Paradise at 45%, and Las Vegas at 59% have the lowest home ownership rates in the valley.

North Las Vegas and Henderson both came in at over 70% home ownership according to year 2000 data.

Las Vegas SUN: Las Vegas: Bright lights, but not a big city (broken link)

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[MomMom]

Originally Posted by New City V

When it comes to real estate, I wouldn't jump so quickly to that conclusion. For instance using year 2000 statistics, home ownership percentages were quite different between areas within the "city of Las Vegas" and metro areas outside the city boundaries.

Within Las Vegas city limits:

home ownership ranged from a low of 41% in the "Winchester" township to a high of 59% in "Las Vegas".

Outside Las Vegas city limits:

home ownership ranged from a low of 62% in Sunrise Manor to a high of 85% in Summerlin South.

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All of Summerlin is located within the City of Las Vegas....

[olecapt]

Originally Posted by MomMom

All of Summerlin is located within the City of Las Vegas....

Nope...Only the northern side...north of Charleston. The south side is in unicorporated Clark County.

[Buzz123]

Originally Posted by New City V

The older, more established areas of the valley, Winchester at 41%, Paradise at 45%, and Las Vegas at 59% have the lowest home ownership rates in the valley.


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Could that have anything to do with the fact that most housing in those areas are apartments and old homes that the owners don't want to live in but rent out to low income families? Just wondering.

[lvkewlkid]

Maybe it has to do with the lower density of the neighborhoods, so its hard to compare as well as the number of homes in each township is different...its like apples to oranges...

Town A could have only 10 homes but because 9 of them are owner-occupied it has a 90% homeownership rate...

Town B could have 150 homes but because 50 are occupied it has a 33% homeownership rate...

The only way to compare is to pick 10 homes out of Town B and see how many of those 10 are owner-occupied and then compare it to Town A...

[ParkTwain]

A default notice on a mortgage payment doesn't mean that foreclosure will happen. It's only the first of three phases in the process for which the economists track the numbers: default notices, auction sale notices, and bank repossessions. The foreclosure activity is more of a pipeline, with exit points along the way before the end of the pipe is reached. Not everyone who misses or delays a payment ends up being repossessed by a bank. So don't take the combined figures for a given city too seriously if the highest figure is the number of default notices, especially if the other two figures aren't significantly rising month-to-month. That's my understanding as a person NOT in the RE business.

[MomMom]

Originally Posted by olecapt

Nope...Only the northern side...north of Charleston. The south side is in unicorporated Clark County.

You are correct Cap..thanks for pointing that out!