[Robustus]

Originally Posted by dynimagelv

If not sooner.....

Yeah, perhaps - hope so. I bought a house (my first) here in October. I don't expect any appreciation for years, but hey, it's a great place to live, I got an awesome fixed interest rate, and I'm in it for the long-haul.

[dynimagelv]

thats the only way to be....in 50 years ive seen las vegas this bad in 1966, 1986, 2006.....[see a pattern developing here?]

[Tagalog]

[quote=Robustus;20439964]Are you 80 years old?

I say there's significant recovery within 5-10yrs or so.[/quote

I wish!! I own properties here in Vegas. 3 of my houses were purchased in 2002 before the boom. My homes are worth less than what I paid for them in 2002. From what I have heard from agents, and reports is that Vegas has about a 30 year inventory of condos and homes. This supply needs to be exhausted before the value of my homes starts to go up. I don't understand why Nevada doesn't stop home builders from building new homes. Factor in other factors into the equation, we are talking 30 or more years for a rebound.

[Tagalog]

Originally Posted by dynimagelv

If not sooner.....

I wish Vegas recovers tomorrow!!!! But its hard to stay positive when there are tons of empty homes in my community. One house has been empty for 4 years. Banks don't want it.

[las vegas drunk]

Originally Posted by Robustus

Are you 80 years old?

I say there's significant recovery within 5-10yrs or so.

I say we are in full blown depression within 5 years. If you really think there will be a significant recovery, what exactly do you think is going to fuel it? And no, the Federal Reserve printing tons of money is not an answer.

[las vegas drunk]

Originally Posted by Tagalog

I wish Vegas recovers tomorrow!!!

We all do, but the fundamentals are just not there.

[Tagalog]

Originally Posted by las vegas drunk

We all do, but the fundamentals are just not there.

I agree. Vegas hasn't seen anything yet.

[jfkIII]

Originally Posted by Tagalog

I wish Vegas recovers tomorrow!!!! But its hard to stay positive when there are tons of empty homes in my community. One house has been empty for 4 years. Banks don't want it.

Recover to what? To where it was right before the bubble burst? That would mean nothing was learned from all of this and the problems of unabated, uncontrolled and unsustainable growth would just continue.

[Tagalog]

Originally Posted by jfkIII

Recover to what? To where it was right before the bubble burst? That would mean nothing was learned from all of this and the problems of unabated, uncontrolled and unsustainable growth would just continue.

This is something to think. What do Vegans want?? I would love to see unemployment down to 4%. I also would love it if my properties come back to the original value I pay for them. Will this happen?? Don't know.

[jfkIII]

Originally Posted by Tagalog

This is something to think. What do Vegans want?? I would love to see unemployment down to 4%. I also would love it if my properties come back to the original value I pay for them. Will this happen?? Don't know.

But again...for your properties to come back to original value, would mean that conditions return to where they were when you bought them...which just ended up getting everyone into trouble. I think you (and many others in LV, Florida, etc) need to come to terms with the fact that it won't (and shouldn't) go back to that point. Hard lesson learned, as much money was lost. Good luck.