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Old 04-09-2013, 07:37 PM
 
244 posts, read 287,554 times
Reputation: 204

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Quote:
Originally Posted by ScoopLV View Post
You and Trader Joe are calling the people purchasing Las Vegas houses "fools."
Ridiculous false statements. You have ZERO credibility.
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Old 04-09-2013, 08:07 PM
 
27,145 posts, read 38,393,382 times
Reputation: 35171
Once again a "real estate in Las Vegas" thread goes down in flames.

I've notice a common denominator in the failure of each one...

Observer is going to earn the money they're not paid in this forum.
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Old 04-09-2013, 08:11 PM
 
Location: Kingman AZ
15,371 posts, read 33,906,818 times
Reputation: 8981
It's crap like this that makes me stay farther and farther away.....GO ahead O53 work your magic
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Old 04-09-2013, 08:16 PM
 
Location: ( ͡ ͜ʖ ͡) (╯□)╯︵ ┻━┻ ̡
7,112 posts, read 10,923,943 times
Reputation: 3867



Motorola DynaTAC 8000x
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Old 04-09-2013, 09:01 PM
 
283 posts, read 415,088 times
Reputation: 217
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.
Ok fixed that for you just for the sake of this argument.

Quote:
Originally Posted by VegasVicsezhowdy View Post
Ridiculous false statements. You have SOME [Zero edited out] credibility.
Happy Now? see above then see below.

Quote:
Originally Posted by Trader Joe99 View Post
Much of the price gains in the last year are driven by speculators competing for the small lot of inventory.
These guys are definitely doing pump and dump and if they're lucky, will make some money in the short term.
Just don't be THE FOOL who helps them escape.
So anyone that buys a home from an investor are Fools, how about if you buy from an underwater seller? Underwater sellers are not pump an dumping speculator or hedge funds. And some of the homes are very cheap per sq feet and it's sometimes cheaper than a brand new home. Just b/c speculators are making money, we cannot buy a home now, just to get back at them? What if I buy now and later when they dump their homes, mine is still the same price (let's say it went up a few thousand but came back down a few thousand?), is that still a "foolish" move? I'll have gotten mortgage deduction, and lived almost rent free vs renting a home for the next how many years with no deductions and nothing but a security deposit that I won't get back.

This is still a decent time to buy a home for the long haul regardless of manipulation or not.
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Old 04-10-2013, 12:50 AM
 
Location: Sunrise
10,869 posts, read 13,747,754 times
Reputation: 8987
You (and Vic) absolutely refuse to see my point.

I agree with everything you say. Markets are manipulated and our currency is funny money. And the whole system is rigged. I agree with ALL OF IT.

And, I'm here to tell you that NONE OF IT MATTERS. By all means, continue to be Don Quixote and Sancho Panza (flip a coin for who gets which part). This falls under the old prayer "serenity to accept the things I cannot change." The system has ALWAYS been rigged. Money has NEVER had any value. The whole of human history is a rehash of the same story of the rich screwing the poor. It's always been that way. And it will likely be that way until our civilization collapses and we all go into survival mode. (Hopefully not in my lifetime. But who knows?)

Here are the facts:

1) Almost nobody cares about what's going on. They're happy with their consumer culture, or they're stuck in places like Somalia, and it's subsistence living. Either way, they don't care about what's really going on. This group constitutes more than 90% of the population of the planet.

2) The people who realize that the whole system is a sham for the most part don't care either. That would be people like me. Sure, I know that the Fed is just printing monopoly money. I know that Wall Street is gambling with our retirement funds. I know the whole system is a house of cards that COULD come crashing down any day. It could, but it won't. Why? Group #1 is never going to realize that the whole thing is (and always has been) fraud. Not happening.

3) The people who realize the whole system is a sham, and think they can do something about it on Internet fora. Here's a news flash. They can't. Theirs is an empty, impotent message that isn't going to catch on. There are too many people in group #1, voting for whoever promises them the best lie. There will be no real change in this country because the people who actually run this country don't want things to change. They want us just smart enough to work the machines but too stupid to question the system.

And, here's the million dollar payoff: Once you get that sorted out, and you realize it's all just a game you can easily jump ahead a couple economic classes and live "the good life." (Whatever "the good life" happens to mean to you. For me it's good food and drink, pleasant company and lots of vacations.)
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Old 04-10-2013, 08:02 AM
 
17,555 posts, read 34,828,203 times
Reputation: 10016
I'm going to reopen this thread, but not for long if you can't disagree, in the context of a spirited discussion with strong opinions, without being disagreeable.

The other thread is reopened now also after the temporary closure. Stay on topic there, please. Thanks!

Last edited by observer53; 04-11-2013 at 06:32 AM..
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Old 04-11-2013, 07:11 PM
 
3 posts, read 26,063 times
Reputation: 15
Hey trader
All real estate market and realtor not scam .You should to know real info from trusted source .You can learn more real news for real estate sale or buy .It's simple just follow me @emacneille then you will get all through twitter.
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Old 04-11-2013, 07:27 PM
 
180 posts, read 161,602 times
Reputation: 222
In keeping with the spirit of the thread, my opinion would be that Las Vegas RE is not being "manipulated". That sounds devious and cunning by some evil hand at work. I don't see it that way. Basic macroeconomic factors are allowing this rise up to occur. The question is, will it last, and could it reverse course?

I see the current housing market as risky to say the least due to macroeconomic factors which have been repeated in bits ad nauseum, but these factors are hard to dispute:

- Wages are not increasing. It would make sense for housing to increase if wages were increasing as well (as the entire economy inflates), but wages are not (in fact they are decreasing in real terms). The poor folk who weren't really in a financial position to buy overpriced homes only bought anyway when they were sure their RE "investment" would make them money and had nothing to lose. After the bust, that certainty is history for this generation. We won't forget.

- Up and coming home owners have huge student debts kids didn't have 10 years ago. They already have a mortgage sized debt on their shoulders by the time they graduate.

- Inventory is limited right now shifting the supply curve to the left (doubtful this will last forever). Banks will eventually clean up their books and off load all of the crap they're still holding. Builders will make more. etc etc

- Investors are pursuing RE for a decent ROI they can't currently sustain elsewhere with much certainty. As soon as another option pops up, of course they will unwind their RE position and move their funds to the new great thing.

- It is nonsensical for homes to appreciate in real terms unless the area is HIGHLY desirable and supply is greatly limited. Vegas is neither if you ask me. Desirable, sure, but not all that highly. I could understand Manhattan prices being sky high because many people want to live there and space is geographically limited. Vegas has tons of room to build more and more properties. I don't know many professionals that finish college and think "wow, Vegas sure is a great town to build a career!" In fact, Vegas sucks for college educated professionals. Our tech sector is almost non-existent.

- Homes should lose value over time unless supply is severely limited (by geography: Hong Kong, Manhattan, etc.). They go out of fashion on the inside. They become less efficient compared to modern construction advances. They age. Why don't we moth ball cars and sell them 30 yrs later for a profit too? It's nonsense and a fad. A b.s. notion that homes should become more valuable over time when their utility gets worse over time. Reasonably, the only reason home prices should appreciate in real terms is if the area is highly desirable and supply is limited by geographic factors. I don't see that here. Sure, retirees may want to move here to die, but we have tons of land to keep building their houses for them, and they aren't exactly pouring in in record numbers.

- Look at the debt. Our taxes will increase. You're retarded if you think otherwise. Fewer dollars to purchase homes with.

- When interest rates rise, who knows what will happen to the asset price, but it's typically inverse. Again, a risk, not a certainty.

etc etc etc

There's many macroeconomic factors to consider before calling this some major rally. I'm not suggesting it's going to crash again necessarily, but to me, it's awfully risky, and you're a fool to not consider the macroeconomic risks at play.

Again, risks, not certainties (and I wouldn't say it's always been this kind of risk).

Last edited by djslakor; 04-11-2013 at 08:13 PM..
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Old 04-11-2013, 09:39 PM
 
140 posts, read 111,766 times
Reputation: 236
Lots of cash piling in from overseas, stock market taking off, lots more jobs, wages increasing in several areas - I don't think vegas is a bubble yet. 2006 prices were a bubble
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