[olecapt]

Originally Posted by MN-Born-n-Raised

Las Vegas
http://www.brookings.edu/~/media/Fil...ro_profile.pdf

Riverside
http://www.brookings.edu/~/media/Fil...ro_profile.pdf

Phoenix
http://www.brookings.edu/~/media/Fil...ro_profile.pdf


Tony supplied them. Just put your mouse over the links to click and read.

There are no GDP statistics on those pages. There are references to a Change in a thing called GMP. But there does not appear to be any actual GMP statistics either.

Now kindly put up or shutup...list the GDPs.

[tony soprano]

Originally Posted by olecapt

Wiggle wiggle.

Not the change in GMP Tony. The GDP or the GMP in a format that allows it to be compared to GDP.

No different than the Case-Shiller data you quote showing a change in housing prices without the actual prices themselves. Vegas has experienced a greater decline in GMP than either Riverside or Phoenix. Sorry.

Now why don't you go try and blow smoke up someone else that actually believes your nonsense.

[MN-Born-n-Raised]

Originally Posted by tony soprano

No different than the Case-Shiller data you quote showing a change in housing prices without the actual prices themselves. Vegas has experienced a greater decline in GMP than either Riverside or Phoenix. Sorry.

Now why don't you go try and blow smoke up someone else that actually believes your nonsense.

The larger point that you were attempting to make was that cities such as Phoenix are diversified so they are in better economic shape than Vegas. Vegas is focused on tourism and construction which will be in the tank for the foreseeable future. If Vegas had other industries, they would have fared much better in this recession (all things being equal).

I'm amazed that someone could actually think industy diversification isn't a smart thing for Vegas. People who have engineering degrees and a 6 week RE certificate might also want to define the housing "bottom" at 4 different spots.






Yep. The bottom happened in 2008, I mean 2009, no 2010, but for sure this Spring.

[olecapt]

Originally Posted by tony soprano

No different than the Case-Shiller data you quote showing a change in housing prices without the actual prices themselves. Vegas has experienced a greater decline in GMP than either Riverside or Phoenix. Sorry.

Now why don't you go try and blow smoke up someone else that actually believes your nonsense.

More of your garbage Tony.

It is quite clear that the GDP of Riverside is in fact down about twice as far as that of Las Vegas from its 2006 level.

It is a shame you can't deal with facts.

And the housing picture in Riverside is only a little different from Las Vegas. Down about 38% versus Las Vegas 36%.

And the present unemployment rate in Riverside is in fact higher than that in Las Vegas.

So no a comparable diverse economy is not doing any better.

It would appear the problem lies with being in a high growth sun belt area...not in lacking diversification

[olecapt]

Originally Posted by MN-Born-n-Raised

The larger point that you were attempting to make was that cities such as Phoenix are diversified so they are in better economic shape than Vegas. Vegas is focused on tourism and construction which will be in the tank for the foreseeable future. If Vegas had other industries, they would have fared much better in this recession (all things being equal).

I'm amazed that someone could actually think industy diversification isn't a smart thing for Vegas. People who have engineering degrees and a 6 week RE certificate might also want to define the housing "bottom" at 4 different spots.
Yep. The bottom happened in 2008, I mean 2009, no 2010, but for sure this Spring.

Your lack of understanding of this stuff continues to stand out.

There is no point discussing the behavior of markets with you as you simply lack any understanding.

The behavior of the RE markets in Riverside/San Bernadino is virtually identical with that of Las Vegas. And unemployment is worse.

There is your poster child for diversification.

I have no personal objections to diversification. If, in the course of events, it should happen I would welcome it.

But there is no will or desire to force diversification on southern Nevada. It is not an area where the citizens are willing to spend large sums. So it ain't gonna happen .

[MN-Born-n-Raised]

Originally Posted by olecapt

.

I have no personal objections to diversification. If, in the course of events, it should happen I would welcome it. .

Why on earth would you welocme diversification?? Remember. You said diversification doesn't help! It seems to me that you talk out of both sides of your mouth. But Tony has already pointed that out in a few hundred examples.

[olecapt]

Originally Posted by MN-Born-n-Raised

Why on earth would you welocme diversification?? Remember. You said diversification doesn't help! It seems to me that you talk out of both sides of your mouth. But Tony has already pointed that out in a few hundred examples.

I don't think it is a likely solution to southern Nevada' economic problems. But otherwise I would not mind diversification. A first class university. Upgrade to the mean educational level. Some new and different sets of people and more high wage earners to sell homes to..

Tony's point out little other than his grasping for straws when caught cooking the books.

[tony soprano]

Originally Posted by olecapt

More of your garbage Tony.

It is quite clear that the GDP of Riverside is in fact down about twice as far as that of Las Vegas from its 2006 level.

It is a shame you can't deal with facts.

And the housing picture in Riverside is only a little different from Las Vegas. Down about 38% versus Las Vegas 36%.

And the present unemployment rate in Riverside is in fact higher than that in Las Vegas.

So no a comparable diverse economy is not doing any better.

It would appear the problem lies with being in a high growth sun belt area...not in lacking diversification

No, what is quite clear is that you don't know what you're talking about. The conversation is about the relative economic performance of different metro areas during the downturn. When you measure a correction, whether it's housing prices, equity markets, or GDP, you measure from peak to trough. Everyone understands that very simple concept except someone trying to bend the data to fit their misinformed opinion.

From the BEA metro GDP data that you provided (in millions of dollars)
News Release: GDP by Metropolitan Area, Advance 2009, and Revised 2001–2008

Las Vegas, Paradise 2007 GDP - $98,387
Las Vegas, Paradise 2009 GDP - $91,742
Change in GDP (-6.75%)

Riverside, San Bernadino 2007 GDP - $115,207
Riverside, San Bernadino 2009 GDP - $110,565
Change in GDP (-4.02%)

The Brookings data I provided show that Vegas has underperformed Riverside during the downturn.

The BEA data that you misused show that Vegas has underperformed Riverside during the downturn.

Your assertion that Vegas has outperformed Riverside during the downturn is a fallacy and you remain a fraud.

[MN-Born-n-Raised]

Originally Posted by olecapt

I don't think it is a likely solution to southern Nevada' economic problems. But otherwise I would not mind diversification. A first class university. Upgrade to the mean educational level. Some new and different sets of people and more high wage earners to sell homes to..
.

Then why have you been arguing that diversification doesn't help out the Vegas economy?

Sorry. You are talking out of both sides of your mouth again. Either you are arguing for the sake of it or you are inconsistent (or both).

[von949]

Originally Posted by MN-Born-n-Raised

Then why have you been arguing that diversification doesn't help out the Vegas economy?

Sorry. You are talking out of both sides of your mouth again. Either you are arguing for the sake of it or you are inconsistent (or both).

Im confused also.