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Old 04-09-2013, 03:31 PM
 
12,973 posts, read 12,244,472 times
Reputation: 5400

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Quote:
Originally Posted by VegasVicsezhowdy View Post
Are you not the same person who said there was no such thing as shadow inventory? So now, it has been demonstrated without any doubt that there are over 60K abandoned properties in Las Vegas.

Why did you say those things? Was this intentional disinformation? Or, do you really have no clue...
which is it?
You always answer with a irrelevant non sequitur?

"Shadow inventory" certainly exists but is not anyplace near the size as to effect the market. The real shadow inventory is those homes being lived in without making mortgage payments. Bank owned inventory is not nearly enough to change anything.

Your source for the "demonstrated without any doubt" 60K abandoned properties??
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Old 04-09-2013, 03:36 PM
 
283 posts, read 414,936 times
Reputation: 217
Thanks for starting this thread and keeping the RE stats and other info in the original thread. I'm ready to read, discuss and argue with you all now.



Regardless of the manipulation if it exist or not, the prices are creeping up in the valley. I see homes being sold rapidly and not staying on the market long. Only the ones that are being sold by flippers are on the market for exorbitantly high prices are not yet in contract.

I think hedge funds will stay in the market and keep owning homes for a while so I don't think they are buying all these up to dump in a year or so after they pump it.
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Old 04-09-2013, 03:42 PM
 
348 posts, read 540,761 times
Reputation: 342
How can anyone NOT agree with ScoopLV?Real Estate Market is going up, investors with money are buying. Could it all end? Maybe, but lets face it a return on 100k is far above almost anything else! Yes, I'm in for the long term as well! Sounds like these "nar-sayers" are trying to drive prices down so they can get in. Sorry - but I'll have a house to rent ya since you can't buy!
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Old 04-09-2013, 03:50 PM
 
10,115 posts, read 8,574,395 times
Reputation: 5966
Generally what your saying is true, but there are some problems.

RE can be VERY illiquid, especially in a declining market. And, given that much of it's value now is based on intentionally and artificially suppressed mortgage interest rates, they are very much exposed to voodoo economics. What happens to your asset value if the gov't loses it interest in, or ability to, keep mortgage rates as something like half or less than what they had been historically (until Greenspan decided on using suppressed mortgage rates as a form of stimulus)?

Quote:
Originally Posted by ScoopLV View Post
With the rising market, the property holds/increases in value, provides monthly dividends and frankly, it's a hedge against voodoo economics.
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Old 04-09-2013, 04:45 PM
 
244 posts, read 287,513 times
Reputation: 204
Quote:
Originally Posted by ScoopLV View Post
You and Trader Joe are calling the people purchasing Las Vegas houses "fools." I am explaining WHY I purchase houses in Las Vegas. They have real value.

You have laid out a position that purchasing property is foolish. I think your position is indefensible. And since I'm one of the speculators who is pushing house prices up, I'm telling you that the foundation for your argument isn't based in reality. I'm buying houses long-term for rentals. Even though the rental return is shrinking, it is still a good way to diversify. With the rising market, the property holds/increases in value, provides monthly dividends and frankly, it's a hedge against voodoo economics.
Again, what does your ad hominem diatribe have to do with:

Las Vegas Real Estate Manipulation

???
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Old 04-09-2013, 05:03 PM
 
17,553 posts, read 34,818,438 times
Reputation: 10016
Quote:
Originally Posted by VegasVicsezhowdy View Post
Again, what does your ad hominem diatribe have to do with:

Las Vegas Real Estate Manipulation

???
He's responding to your posts and those of the OP. Let's keep the personal comments out of the discussion.

Last edited by observer53; 04-11-2013 at 06:04 AM..
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Old 04-09-2013, 05:12 PM
 
244 posts, read 287,513 times
Reputation: 204
"another wild ride from mid 2013 to the end of 2014"

Las Vegas Real Estate Forecast – Shadow Inventory and Bubbles | Las Vegas Home Rental & Real Estate Blog
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Old 04-09-2013, 05:29 PM
 
Location: Sunrise
10,869 posts, read 13,744,193 times
Reputation: 8987
If you think that's "ad hominem," you really need to grow a thicker skin.

You may not have come out and directly said that people who buy real estate are fools (you left that to your cohort). But every single one of your posts suggests that Las Vegas homeowners are easily-duped fools. Furthermore, your tone suggests that you live in an ivory tower somewhere (with a thesaurus and a Latin phrasebook within easy reach) pronouncing judgement on the common clay.

If you really know as much about economic theory as you claim, put your money where your fingertips are and go out there and make a fortune. It sure beats whinging* on about the game being rigged anonymously on Internet fora.


* I am the founding member of "Americans for Adding 'Whinge' to the Lexicon." (The AAWL.) Please join me in putting this fantastic word into common use.
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Old 04-09-2013, 06:54 PM
 
Location: Here and there, you decide.
11,625 posts, read 22,796,517 times
Reputation: 3920
Even if you have a rental home and minimal Roa, if the rent covers the mortgage, taxes, and such... Who the hell cares? Eventually, the homes are paid for by the tenant.
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Old 04-09-2013, 07:03 PM
 
Location: Sunrise
10,869 posts, read 13,744,193 times
Reputation: 8987
Or pay cash and it's just another income stream backed by land rights and a structure.

Either way, it's a good way to diversify. ALL investments are a bunch of smoke and mirrors. Every aspect of our economy is manipulated. And what can be done about it? Nothing -- short of somehow seizing power and installing the Randian Utopia armchair economists have dreamt about since they first got their hands on a copy of Atlas Shrugged.
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