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Old 08-21-2017, 10:55 PM
 
Location: Summerlin South
243 posts, read 135,347 times
Reputation: 208

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Quote:
Originally Posted by foundapeanut View Post
^^^ agree with lots of this. No kids but have been hearing issues around the schools.

I'm wondering who is going to live in all these apartments - they are everywhere. Is that what people are going to have to live in to be able to live here?
Frankly I'd rather the stability of home ownership (with my house not increasing in value ) than a transient population of apartment dwellers.
I'm in my forever home in Summerlin, so how much it appreciates will only affect our heirs. We are seeing record amounts for sales prices, higher than even 2005 and more of them. And we have record low listings.

I avoid 215 from about 3pm till 7pm. Thank God its not mandatory I use it. Last time we took it was 2 years ago for a dinner on the other side of town. Showed up about 30 minutes late and some who were suppose to attend were much later or called and said they'd never make it, stuck on 215.

Something's have gotten much better than when we moved here 17 years ago. Lots more great dining off the strip. Better doctor choices. And of course when you get established in an area, more friends.
All those new apartment complexes in the SW part of town by the beltway are tomorrow's slums within a decade. Brand new class As apartment complexes age the original investment company sells it off to the next investment group that wants to milk the cow which turns into a class B complex and down hill it goes. For those who need an example, just look on the eastern part of town. Apartment complexes bring blight and crime to a neighborhood - eventually.
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Old 08-22-2017, 02:18 PM
 
104 posts, read 78,294 times
Reputation: 104
Quote:
Originally Posted by xusafpilot View Post
All those new apartment complexes in the SW part of town by the beltway are tomorrow's slums within a decade. Brand new class As apartment complexes age the original investment company sells it off to the next investment group that wants to milk the cow which turns into a class B complex and down hill it goes. For those who need an example, just look on the eastern part of town. Apartment complexes bring blight and crime to a neighborhood - eventually.

I guess that depends on the overall economic situation in Las Vegas 10yrs from now...

What you say could happen, but I hope not...

As an apartment investor, it's always better to keep A class tenants and charge higher rents, rather than C class, and have higher turnover and increase capital expenditure due to excessive wear and tear.

... so it doesn't benefit the landlord to see their property drop from A to C.
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