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Old 12-13-2011, 03:34 AM
 
47 posts, read 149,447 times
Reputation: 25

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The rent prices seem to be as high as Staten Island, NY rent prices, but the difference is a home in Staten Island costs 5-10x a las vegas home, and staten island is part of NYC.

It gets me really mad to see people asking ridiculously high rent prices for a home that is worth 30-50K. 1000K to 1500K a week for a home worth that much, anything wrong here?

What is going on here? Are people still stuck in the boom level times and wanting as high rent? Are they actually getting it?

And if these people are actually renting these places for so high a price, vs what you can buy a new home for, then why are you all not in the real estate rental business.

I'm looking for a studio or something small, and it is nice if it is furnished. What surprises me is people will ask 700 dollars or more for these units. But when you actually go see them they are in North Vegas, and they look like they used to be like an old motel or something, or something out of the 3rd world. Takes me minutes to see the people entering these places to know its not a place you want to live. I would think that these places must cost practically close to nothing, but they are asking 700 in rent. Some are furnished, but that should mean nothing. I mean, you can buy all the stuff to furnish these places on craigslist for like 200 bucks.

Seems like you can make tons of cash buying places like that for dirt cheap and renting them out to people.

What surprises me is that there are very few options for these furnished kind of places in Las Vegas.
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Old 12-13-2011, 03:43 AM
 
2,457 posts, read 4,702,460 times
Reputation: 1406
Rent in the valley has significantly dropped since 2008. If you’re looking for a short term furnished rental. Then you’re going to pay premium like most cities.
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Old 12-13-2011, 04:04 AM
 
151 posts, read 698,132 times
Reputation: 159
I have a studio and the rent is like $430 a month total just get some cheap furniture off of craigslist and get an unfurnished place
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Old 12-13-2011, 07:21 AM
 
Location: Vegas, baby, Vegas!
3,977 posts, read 7,610,336 times
Reputation: 3738
Traveler, are you in LV yet?

Jonathan
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Old 12-13-2011, 09:19 AM
 
2,180 posts, read 4,518,553 times
Reputation: 1087
awesome... I welcome moderately high rent rates.

bravo!
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Old 12-13-2011, 03:03 PM
 
Location: Tyler, TX
23,441 posts, read 23,781,448 times
Reputation: 14783
I'm paying less for a 4br house here than I was for a 1br apartment in SoCal. Rent here is cheap...
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Old 12-13-2011, 03:07 PM
 
579 posts, read 992,890 times
Reputation: 371
Rent is high because so many people lost their homes, can't get a mortgage or do not want to risk buying in the market right now. The high rent is what is keeping the housing market from dumping further because investors are coming in for the double digit returns in rent. Rent did not collapse as bad as housing prices did because people have to live somewhere, even after they lose their house.
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Old 12-13-2011, 04:58 PM
 
Location: NV
137 posts, read 220,784 times
Reputation: 70
Quote:
Originally Posted by swagger View Post
I'm paying less for a 4br house here than I was for a 1br apartment in SoCal. Rent here is cheap...
+1

Have no idea why anyone would complain of a high rent price in LV.
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Old 12-13-2011, 05:02 PM
 
Location: Green Valley
383 posts, read 897,181 times
Reputation: 301
Paying less for a 3br. sfh in a gated community in Seven Hills than I was a 2 br apartment in SoCal in 1995.
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Old 12-13-2011, 05:02 PM
 
1,374 posts, read 2,422,291 times
Reputation: 789
It is cheaper to buy than to rent now...for the long term anyway.
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