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Old 02-28-2009, 09:14 AM
 
Location: occupied east coast
824 posts, read 1,851,405 times
Reputation: 1626

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If you haven't read the referenced article linked by the O.P., do so.

The article is pure propaganda. It does not make sense on it's own merits, let alone a critical eye.

Full recovery is defined as ONE (1) new house sale per tract per WEEK.

O.K. that's a grand total of 52 houses PER YEAR!!!! And, this is defined as recovery(?).
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Old 02-28-2009, 11:00 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 32,511,548 times
Reputation: 2661
Quote:
Originally Posted by banger View Post
If you haven't read the referenced article linked by the O.P., do so.

The article is pure propaganda. It does not make sense on it's own merits, let alone a critical eye.

Full recovery is defined as ONE (1) new house sale per tract per WEEK.

O.K. that's a grand total of 52 houses PER YEAR!!!! And, this is defined as recovery(?).
There are hundreds of tracts.

Still does not compute though. I do not think it can happen until the existing sales reach something close to replacement costs. I don't think that happens by 2011.
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Old 03-02-2009, 07:33 AM
 
Location: Fort Worth and Las Vegas
255 posts, read 485,468 times
Reputation: 73
Quote:
Originally Posted by airics View Post
so who wants to give me 270k for my rental house that is now worth 140k? i'll throw in a 19" color tv from walmart....
That's pretty impressive. I'd like to think I'd have the moral turpitude to keep paying if I had a drop like that if I had the means to do so - but I don't know. We should thank you for keeping the economy going in your own little way.
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Old 03-02-2009, 07:50 AM
 
Location: Here and there, you decide.
11,584 posts, read 22,695,470 times
Reputation: 3883
would you take it at 270k, if i throw in a 27" tv AND a 6lb burrito?
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Old 03-02-2009, 09:18 AM
 
844 posts, read 1,770,619 times
Reputation: 485
So I should NOT buy a house in Vegas right now???
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Old 03-02-2009, 09:29 AM
 
482 posts, read 1,197,609 times
Reputation: 87
Extrapolate the price off of the downward curve. It's a good time to buy in a good neighborhood.
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Old 03-02-2009, 09:29 AM
 
Location: Las Vegas, NV
321 posts, read 675,489 times
Reputation: 272
Quote:
Originally Posted by drinkme View Post
So I should NOT buy a house in Vegas right now???
Not if you plan on selling it within the few years. If not, now is the PERFECT time to buy! My co-workers girlfriend is an elementary school teacher here and put in an offer on a 3 bedroom, single family home in a decent neighborhood for $92,000!

I plan on buying sometime this year.. Wish me luck!
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Old 03-02-2009, 11:06 AM
 
Location: Fort Worth and Las Vegas
255 posts, read 485,468 times
Reputation: 73
Quote:
Originally Posted by airics View Post
would you take it at 270k, if i throw in a 27" tv AND a 6lb burrito?
Is that pesos or rupees you'll be wanting?
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Old 03-02-2009, 11:36 AM
 
Location: Las Vegas
84 posts, read 130,147 times
Reputation: 41
Quote:
Originally Posted by tag08 View Post
Not if you plan on selling it within the few years. If not, now is the PERFECT time to buy! My co-workers girlfriend is an elementary school teacher here and put in an offer on a 3 bedroom, single family home in a decent neighborhood for $92,000!

I plan on buying sometime this year.. Wish me luck!
I'll be moving to LV Apr of 2010. If the market stays the way it is now I'm hoping to make out. I'm looking at houses that went for $600k in 07 for around $280k now. Using zillow.com as my source that is.
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Old 03-02-2009, 01:07 PM
 
Location: Here and there, you decide.
11,584 posts, read 22,695,470 times
Reputation: 3883
Quote:
Originally Posted by rpachigo View Post
Is that pesos or rupees you'll be wanting?
Pounds
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