[olecapt]

Originally Posted by ackackack

You could get a place like that right now if you wanted to give Detroit a try. If I didn't know better, I'd say that olecapt sounds like a "doom jerk." From one "doom jerk" to another, your forecast/dream wouldn't surprise me at all olecapt. The Baby Boomer's have been screwing this country up for a very long time now, so why shouldn't they get their cake and eat it too? It's what they do best. Their kids and their kids' kids can clean the mess up.

For something really depressing, look up Detroit real estate with no minimum price and see how many "starter" homes you could pick up for less than $1,000. Maybe when enough of these Baby Boomers become dependent on
"Generation X," we can send them to wonderful Detroit Rock City and tell them it's the new "Sun City" as a sort of "thank you" for all that they've done to our fine country.

You simply are not familiar with rural Real Estate. In places you can pick up 5 acres and a house for 5 grand or less. In wheat belt country you can buy land for $2,000 an acre and pick up a little house for the cost of hauling it to the lot...which is generally no more than a couple of grand.

In my opinion the demise of Detroit was established by that unholy alliance of the Management and Uniions of 50 years ago. When management failed to contain the unions they deferred the problem rather than account for it...those allowing the companies to appear profitable when they were not.

A little truth would have avoided that. The only one who hates truth more than the unions are the capitalists.

[SLCPUNK]

Originally Posted by olecapt

Would not surprise me in the least in spring 2009. Very high probability by spring 2010.

You think it can't happen? Watch...

You've got to be kidding.

I'll bet you a nice steak dinner it won't happen.

[sheriff]

Originally Posted by olecapt

Would not surprise me in the least in spring 2009. Very high probability by spring 2010.

You think it can't happen? Watch...

Why? The 40,000 new rooms by 2010? That represents a 32% increase in rooms---granted, many are of the condo/hotel variety, and will not require a 32% increase in visitor volume to be successful---but visitor volume will DECLINE in 2008-2009. The associated work force will not be enough to pump real estate, and there will be losses never before seen in LV. Just my opinion.

[olecapt]

Originally Posted by sheriff

Why? The 40,000 new rooms by 2010? That represents a 32% increase in rooms---granted, many are of the condo/hotel variety, and will not require a 32% increase in visitor volume to be successful---but visitor volume will DECLINE in 2008-2009. The associated work force will not be enough to pump real estate, and there will be losses never before seen in LV. Just my opinion.

But of course. The new worker count is estimated at 57,000 on the strip...with normal multipliers well over 150K new workers in the Valley. That will do it. Half that will do it..

I certainly would not project a big runup in that period. But I would expect sufficient demand to move price upward rather than the downward trend of the last 2 years.

[olecapt]

Originally Posted by SLCPUNK

You've got to be kidding.

I'll bet you a nice steak dinner it won't happen.

You are on... By March of 2010 median and average prices will exceed todays levels...

[sheriff]

Originally Posted by olecapt

But of course. The new worker count is estimated at 57,000 on the strip...with normal multipliers well over 150K new workers in the Valley. That will do it. Half that will do it..

I certainly would not project a big runup in that period. But I would expect sufficient demand to move price upward rather than the downward trend of the last 2 years.

The new worker count will not amount to squat, even if they are able to bring equity with them, which will be questionable. Contigient deals will be abound, and the undocumented will buy elsewhere.

[sheriff]

Originally Posted by SLCPUNK

You've got to be kidding.

I'll bet you a nice steak dinner it won't happen.

No point in betting olecapt----he won't come across anyway. He has welshed on other bets in the past on public forums.

[olecapt]

Originally Posted by sheriff

The new worker count will not amount to squat, even if they are able to bring equity with them, which will be questionable. Contigient deals will be abound, and the undocumented will buy elsewhere.

Contingent deals? You have any idea what you are talking about?

[airics]

sheriff, have you ever said anything positive about anything on these boards? you must be the most depressing person around.

[sheriff]

Originally Posted by olecapt

Contingent deals? You have any idea what you are talking about?

DUH! DUH! DUH! Where does judge Joe live??? DUH, DUH, DUH!!! Sure---just like YOU I had a full two weeks education in real estate at a strip mall!