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Old 04-09-2013, 01:05 AM
 
59 posts, read 79,886 times
Reputation: 87

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Las Vegas real estate market has been manipulated for years. One may say that entire real estate market in this city is one big scam. The entire city real estate growth has been build on speculations, and not actual demand. It has been never real organic demand for all those homes and neighborhoods. Even today majority of buyers are simply speculators from out of state and wall street hedge funds. Who do you think has bid up prices in the valley for the past 12 months???
Surely it's not first time home buyer or average Las Vegas working families surviving on low service jobs.
Average Las Vegas worker won't be seeing 5% wage increases anytime in the future.

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.

There are many homeowners on this board who are stuck with their homes. They are cheerleading for home price increase so that they can get out and sell that house to some poor soul.
We should all keep in mind that interest rates at the present levels is not a sign of economic growth......it's a sign of economic desperation.

Households receiving food stamps benefits increased by 23,322 to 23.08 million households, with the current total rising 4.05% above the level seen a year earlier.

Happy Days are back again......

Last edited by Trader Joe99; 04-09-2013 at 01:28 AM..
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Old 04-09-2013, 01:12 AM
 
16,438 posts, read 18,513,116 times
Reputation: 9490
I have read reports that investors are slowing down on rental property purchases as the return on investment is rapidly diminishing.
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Old 04-09-2013, 01:42 AM
 
59 posts, read 79,886 times
Reputation: 87
Quote:
Originally Posted by Bideshi View Post
I have read reports that investors are slowing down on rental property purchases as the return on investment is rapidly diminishing.
The search for yields has come to this. Hedge funds going into the home rental market. The truth is that the cash they have was borrowed before they got it. So it's not earned money, it's inflationary money.

The rental market is driven by earned money, not borrowed money. With the employment participation rate back to 1980 levels....how much money is really available to pay rents? Have you looked at the rental listings lately? Prices are falling and many listings are lowering asking price.

Last edited by Trader Joe99; 04-09-2013 at 02:58 AM..
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Old 04-09-2013, 01:48 AM
 
Location: Salt Lake City/Las Vegas
1,580 posts, read 2,074,545 times
Reputation: 1842
Speculation is a natural process in a Capitalistic economy. Some markets simply have more speculative drivers than others.

And, considering the above, speculation permeates the system - even for routine home purchases by Joe Sixpack on Main Street USA. Why do some people rent and some people buy? Simple. They "speculate" on what is their best value and act accordingly. Some think purchasing is a better deal than renting - and vice versa.

I'm not sure people realize the economic fallout of advocating removing speculation from real estate purchase (and sales) decisions. Or, for that matter, removing it on any item or commodity in our country. Not to be too harsh, but it's a naive stance to take.

Bill

Last edited by UTES; 04-09-2013 at 02:08 AM..
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Old 04-09-2013, 02:54 AM
 
59 posts, read 79,886 times
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Bill, the Speculators are friends of themselves.
They are currently trying to make money off the housing hype. But when they are ready to make money off the housing fall they will do so.
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Old 04-09-2013, 03:18 AM
 
3,574 posts, read 4,014,298 times
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Then why don't you, and stop whining about it on multiple threads???
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Old 04-09-2013, 03:58 AM
 
59 posts, read 79,886 times
Reputation: 87
Quote:
Originally Posted by logline View Post
Then why don't you, and stop whining about it on multiple threads???
So everyone who doesn't belive in this so called housing recovery and who questions our local housing market is "whining".
I noticed few other posters have been called that as well.

Now we have a thread were we can discuss our local housing market manipulation.
Please don't tell me you can't contribute with one example of housing manipulation in Las Vegas.
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Old 04-09-2013, 08:11 AM
 
2,180 posts, read 3,624,675 times
Reputation: 1068
"Organic demand"... are you touched?

If you are running a business, besides being a "friend of yourself", with whom should you be friends?
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Old 04-09-2013, 09:14 AM
 
Location: ( ͡ ͜ʖ ͡) (╯□)╯︵ ┻━┻ ̡
7,112 posts, read 10,852,083 times
Reputation: 3866
So Trader, what's your background story?


Motorola DynaTAC 8000x
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Old 04-09-2013, 10:13 AM
 
244 posts, read 285,920 times
Reputation: 204
Quote:
Originally Posted by Trader Joe99 View Post
There are many homeowners on this board who are stuck with their homes. They are cheerleading for home price increase so that they can get out and sell that house to some poor soul.
In my humble opinion you are absolutely spot on.

There are 3 factions who continuously attempt to manipulate via propaganda and vilify anyone who disagrees with their agenda. They include:

1. Realtors

2. Specuvestors

3. Underwater homeowners (as previously stated)

Good luck keeping this topic on track because they will do anything to undermine and derail you.

PEACE
Vegas Vic
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