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Old 07-13-2019, 10:23 PM
 
Location: Viva Las Vegas bound!
2,781 posts, read 2,121,653 times
Reputation: 2357

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I was just reading this article the last line few lines line up with the Las Vegas market. It's hot. They expect inland markets where homes are still affordable for the middle class to heat up. That's why we're moving back. So we can afford a comfortable middle class lifestyle, with a good work life ratio, in a warm sunny environment and access to top chefs, shopping and entertainment unlike most places of similar size.

https://www.msn.com/en-us/money/real...hSU?li=BBnbfcN
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Old 07-14-2019, 11:35 AM
 
Location: Here and there, you decide.
12,071 posts, read 23,562,649 times
Reputation: 4208
Quote:
Originally Posted by Merry Lee Gather View Post
I was just reading this article the last line few lines line up with the Las Vegas market. It's hot. They expect inland markets where homes are still affordable for the middle class to heat up. That's why we're moving back. So we can afford a comfortable middle class lifestyle, with a good work life ratio, in a warm sunny environment and access to top chefs, shopping and entertainment unlike most places of similar size.

https://www.msn.com/en-us/money/real...hSU?li=BBnbfcN
I failed to mention Zillow stating cool or cold for VEGAS. Southeast shows warm or hot. The article is not geared to Vegas. Vegas is stabilizing
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Old 07-14-2019, 12:40 PM
 
Location: Beaverton, OR
5,625 posts, read 5,928,108 times
Reputation: 6445
Nothing wrong with a stable market honestly. People shouldn’t be looking at their homes as an investment anyway, but stability in a market can be good for the long term health of the housing market even if it’s not benefiting sellers or buyers specifically.
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Old 07-14-2019, 01:48 PM
 
Location: Viva Las Vegas bound!
2,781 posts, read 2,121,653 times
Reputation: 2357
They must be talking about Boise then cause that market is hot and it's smaller than Vegas. I forgot they mentioned small inland markets.

Sigh, I wish for another housing bubble burst in a few years so we afford the house I really want. I seem to prefer the modern houses in the 800K range like in the Sunmerlin Cliffs or Ironwood but I only want to pay 500-600K. Henderson has the most reasonable modern houses for the money from what I've see but the commute to the VA wouldn't be reasonable. Still I like their style best, but I'm waiting to see what the Toll Brothers build in Skye Canyon in the NW for an easier commute.

I thought with trickle down economics it's proven to be a boom bust cycle with one coming around every 10 to 20 years or so and we're due for another bust soon. The reclusive hedge fund doctor that predicted the last big bubble said in 2016 after 'The Big Short' came out that we didn't learn from our lesson last time and they are doing the same thing again. It's just a matter or time. I looked him up and he's off on another venture now buying up property with natural water resources.

I've been watching news clips on YouTube with economist saying lately we're expecting a recession in 2020. I've seen at least three or four of these videos. Seems like you can find that every year though like predictions of the end of the world or the second coming.
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Old 07-14-2019, 02:35 PM
 
Location: Las Vegas, NV
117 posts, read 50,937 times
Reputation: 113
I'm no realtor, but I check Zillow/Realtor/GLVAR weekly and I see a lot more houses listed and routinely see price drops. We visited 5 hours from OpenDoor two months ago and 3 of them are still available and I get emailed price drop notifications every two weeks.

I still believe we have a bigger correction coming.
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Old 07-14-2019, 03:00 PM
 
Location: Lone Mountain Las Vegas NV
12,901 posts, read 4,881,056 times
Reputation: 5723
Quote:
Originally Posted by Svoboda View Post
I'm no realtor, but I check Zillow/Realtor/GLVAR weekly and I see a lot more houses listed and routinely see price drops. We visited 5 hours from OpenDoor two months ago and 3 of them are still available and I get emailed price drop notifications every two weeks.

I still believe we have a bigger correction coming.
Median is up month over month. Now $304.000. Inventory of SFRs is at 2.7 months. That is pretty strong sellers market. With interest rates coming down I cannot see any kind of break anytime soon.
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Old 07-14-2019, 03:04 PM
 
Location: Here and there, you decide.
12,071 posts, read 23,562,649 times
Reputation: 4208
Quote:
Originally Posted by Svoboda View Post
I'm no realtor, but I check Zillow/Realtor/GLVAR weekly and I see a lot more houses listed and routinely see price drops. We visited 5 hours from OpenDoor two months ago and 3 of them are still available and I get emailed price drop notifications every two weeks.

I still believe we have a bigger correction coming.
I think + or - 5%. I actually believe that people coming from California to buy is actually hurting sales from buyers in other locations. Last think they want is another California. Florida is still hot, even though hurricane season is here
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Old 07-14-2019, 04:50 PM
 
Location: Las Vegas, Nevada
638 posts, read 496,384 times
Reputation: 1904
Quote:
Originally Posted by airics View Post
if you are expecting a crash, it ain't coming... will everything stabilize and cool.. without a doubt...
Quote:
Originally Posted by JonathanLB View Post
Yeah I have no idea what you’re talking about. Prices are not inflated whatsoever, there is no bubble, and there is no crash coming. At worst a minor correction and even that is extremely doubtful. More likely to see years of a stable market with modest 1-4% appreciation.

This is exactly what everyone was saying back in 2007. It is different this time, I know. The only difference is the bubbles are bigger than they were back then.


Quote:
Originally Posted by Merry Lee Gather View Post
Sigh, I wish for another housing bubble burst in a few years so we afford the house I really want.
I thought with trickle down economics it's proven to be a boom bust cycle with one coming around every 10 to 20 years or so and we're due for another bust soon. The reclusive hedge fund doctor that predicted the last big bubble said in 2016 after 'The Big Short' came out that we didn't learn from our lesson last time and they are doing the same thing again. It's just a matter or time. I looked him up and he's off on another venture now buying up property with natural water resources.
I would not wish for another crash. The last one was good because it was controlled. I personally believe they will lose control of the next one which will not be good for any of us. The hedge fund doctor you are referring to is correct. History is going to repeat itself.




"There is no cause to worry. The high tide of prosperity will continue."
... Sec. of Treasury, Andrew Mellon,
September 1929.


"Stock prices have reached what looks like a permanently high plateau".

... Yale Economist Irving Fisher,
October 16th 1929.



"This crash is not going to have much effect on business."
... Chairman Arthur Reynolds
Continental Illinois Bank of Chicago
October 24th 1929.


"I have no fear of another comparable decline."
... Arthur W. Loasby
President Equitable Trust Co.
October 25th 1929.


"There's No Housing Bubble to Go Bust"
...Ben Bernanke
October 2005

Last edited by Katie the heartbreaker; 07-14-2019 at 04:58 PM..
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Old 07-14-2019, 05:42 PM
 
Location: Las Vegas, NV
117 posts, read 50,937 times
Reputation: 113
Quote:
Originally Posted by lvmensch View Post
With interest rates coming down I cannot see any kind of break anytime soon.
Just curious, but if we're at/near full employment and the economy is kicking ass like all the metrics suggest, why would we be lowering interest rates?
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Old 07-14-2019, 05:58 PM
 
Location: Lone Mountain Las Vegas NV
12,901 posts, read 4,881,056 times
Reputation: 5723
Quote:
Originally Posted by Svoboda View Post
Just curious, but if we're at/near full employment and the economy is kicking ass like all the metrics suggest, why would we be lowering interest rates?
You got me. On this I am only an observer. I suspect it is combination of politics and economic management. Trump is beating them up to keep it down and there were some indications of the good times slowing down.

Same thing as Trump's tax cuts. Any economic text would tell you that you raise taxes in booming economy not cut them. Particularly true in a deficit situation.
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