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View Poll Results: People moving In and Out of Vegas Poll Question???
Do you know people moving out of Vegas at a stunning rate! 14 24.14%
Do you know people who stay for a while but hate Vegas 16 27.59%
Vegas is my Home and I plan to stay!!! 28 48.28%
Voters: 58. You may not vote on this poll

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Old 07-31-2008, 09:26 AM
 
Location: Las Vegas
3,728 posts, read 9,451,598 times
Reputation: 1322

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Quote:
Originally Posted by sheriff View Post
A very good life for hustlers of all types in LV. Scams, pimps, drug dealers, real estate con men, sex business, medical fraud, etc, etc.
That would apply to many, many cities around the country Sheriff. You really need to get out and experience the world a bit to really see the crapola that goes on in other cities, towns and villages.....

 
Old 07-31-2008, 11:51 AM
 
1,755 posts, read 5,323,254 times
Reputation: 241
Quote:
Originally Posted by MomMom View Post
That would apply to many, many cities around the country Sheriff. You really need to get out and experience the world a bit to really see the crapola that goes on in other cities, towns and villages.....
I have worked in more cities in the US than I care to mention-------------LV is the absolute mecca for hustling, and illegal untaxed income from illegal activities. Hustling, sex, drugs, real estate scams, VIP hosts, nightclubs, service industry, and many more draw the scum of the world to LV. Nothig wong with this------------suckers are born every minute.
 
Old 07-31-2008, 12:08 PM
 
Location: Las Vegas
3,728 posts, read 9,451,598 times
Reputation: 1322
Quote:
Originally Posted by sheriff View Post
I have worked in more cities in the US than I care to mention-------------LV is the absolute mecca for hustling, and illegal untaxed income from illegal activities. Hustling, sex, drugs, real estate scams, VIP hosts, nightclubs, service industry, and many more draw the scum of the world to LV. Nothig wong with this------------suckers are born every minute.
And I'm trying to tell you that Las Vegas is not unique. This goes on EVERYWHERE! Even in small, little towns with very small populations!

And all those things you mentioned are VERY much established in NYC, Boston, San Francisco, Seattle, Rome, Paris, London...to name a few.

Aren't THOSE, world class cities in YOUR mind?

Sheesh, suckers are born every minute.
 
Old 07-31-2008, 01:46 PM
 
Location: Las Vegas, Nevada
12,686 posts, read 36,265,255 times
Reputation: 5516
Quote:
Originally Posted by bradly View Post
I heard this morning on CNN that 1 out of 70 houses are getting forclosure notices in the Las Vegas Metro Area
thats scary.. in Albuquerque Metro Area its 1 out of 750, and thats still pretty scary ..now that we are the 2nd fastest growing city.
But no other city was growing like we were, and cities like Albuquerque, while growing, were not attracting as many investors as Las Vegas. They actually discouraged Californians, the chief culprits, from going there and investing in houses. So many people were moving here that builders and buyers thought it would never end. Anytime there is a frantic investment orgy those on the tail end are going to get burned. Knowing when the tail end is in sight is the trick. Look at the oil market. A lot of those people had to have lost some money recently, although probably not a lot. You can't expect people to keep paying more than something is worth forever. As many have pointed out, this isn't just a Las Vegas problem, although several people on here would like to use it to criticize Las Vegas. I don't know why certain people stay here if they hate it so much, except they are so negative they would hate it wherever they were.
 
Old 07-31-2008, 02:11 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,100,357 times
Reputation: 2661
The problem is heavily concentrated in those cities or areas which had high growth in 2004/5/6. In that time things got out of hand and homes sold for values higher than was sustainable. So those are the places hurting. So FL, Las Vegas, Sacremento, Phoenix, Temecula, Riverside.

If you were growing like a weed in that period you have a foreclosure problem now.

Nothing more complicated than that.
 
Old 07-31-2008, 02:41 PM
 
Location: Albuquerque, NM - Summerlin, NV
3,435 posts, read 6,965,283 times
Reputation: 682
Quote:
Originally Posted by olecapt View Post
The problem is heavily concentrated in those cities or areas which had high growth in 2004/5/6. In that time things got out of hand and homes sold for values higher than was sustainable. So those are the places hurting. So FL, Las Vegas, Sacremento, Phoenix, Temecula, Riverside.

If you were growing like a weed in that period you have a foreclosure problem now.

Nothing more complicated than that.
Well how come Albuquerque doesnt have such a bad foreclosure problem?
It has been growing heavily like a freaking since 2002. 2004-2005 biggest growing period..
Were one of the lowest in the nation. Only 1 out of 750 gets a foreclosure notice, unlike Las Vegas 1 out of 70?
 
Old 07-31-2008, 02:43 PM
 
Location: Las Vegas, NV
2,990 posts, read 8,691,508 times
Reputation: 1516
Quote:
Originally Posted by bradly View Post
Well how come Albuquerque doesnt have such a bad foreclosure problem?
It has been growing heavily like a freaking since 2002. 2004-2005 biggest growing period..
Were one of the lowest in the nation. Only 1 out of 750 gets a foreclosure notice, unlike Las Vegas 1 out of 70?
Maybe because it has a lower percentage of investor vs. owner occupied? I am not sure, but this is a good guess. Anyone know the real reason?
 
Old 07-31-2008, 02:55 PM
 
Location: Albuquerque, NM - Summerlin, NV
3,435 posts, read 6,965,283 times
Reputation: 682
Quote:
Originally Posted by AA702 View Post
Maybe because it has a lower percentage of investor vs. owner occupied? I am not sure, but this is a good guess. Anyone know the real reason?
Maybe i have noticed to see albuquerque is also seeing some good growth during hard times in the ecnomy..

The city proper for the 2007 estimates was 518,271
Now the City taken estimate for 2008 was at 526,998

I heard Las Vegas is losing people is this true?
Does Las Vegas still stand at 552,539?
 
Old 07-31-2008, 02:58 PM
 
Location: Las Vegas, NV
2,990 posts, read 8,691,508 times
Reputation: 1516
The county’s population has surpassed 2 million people. Of that figure, it is estimated that 603,093 people lived in Las Vegas city limits, while 877,233 reside in unincorporated areas of Clark County.

This was early this year, I'm not sure what it is now but it really seems like people are still moving here.
 
Old 07-31-2008, 03:07 PM
 
Location: Houston, Texas
10,447 posts, read 49,561,189 times
Reputation: 10614
Quote:
Originally Posted by bradly View Post
I heard this morning on CNN that 1 out of 70 houses are getting forclosure notices in the Las Vegas Metro Area
thats scary.. in Albuquerque Metro Area its 1 out of 750, and thats still pretty scary ..now that we are the 2nd fastest growing city.
I was just looking at those numbers this morning. LV has lead the nation in foreclosures for 17 consecutive months. So far it isn't looking like it is leveling off. From just May to June of this year we had a 24% increase and an 81% increase over last June. LV has more then 5 times the national average foreclosures.

California is a distant #2 as you may have easily guessed with Stockton leading the way over there.

Arizona is a close 3rd with Phoenix?Mesa taking the biggest hit.

Florida is a close 4th with Miami leading the way.

Michigan rounds out the top 5 with Detriot steamrolling ahead. Michigan was #9 in May but leaped to #5 in June thanks to a 25% increase from May to June this year. At the current rapid increase in filings, Michigan might just move up to 3rd place by Sept.

Source: Consumer Affairs

What I am wondering is are landlords going to relax their credit requirements for renters during this crisis and in the future? Approx one in every 70 families who now have a foreclosure on their score......will anyone in a safe decent area rent to them?

In the past it may have taken 5 years or more before one can secure a mortgage after having a foreclosure filing. Will this be different in the next 5 years or beyond? Will future lenders give some slack or will a big bad FICO computer program continue to make that judgment?
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