[ScoopLV]

Originally Posted by bayview6

The silver-back gorilla in the room is Clark County's water supply. Large rate increases for the "third straw" haven't shown up in the water bills yet and that won't increase water supply by one drop. Eventually, new home construction will come to a halt unless the builder or developer owns a pre-existing water meter. The long-term outlook for real estate values in the Las Vegas valley is good because of limited supply and increasing demand. We are in the worst drought on record and the heat is on.

Not to mention the loss of CHEAP electricity when Hoover Dam turbines quit spinning.

I hope to be out of here before this sinks in for the masses. But how is the "long-term" outlook good? How long-term are you talking about? My long-term prognosis for this city isn't particularly optimistic.

[OmegaSupreme]

Originally Posted by ddrhazy

I see plenty of locals buying stuff. One of my tenants left and bought his own place, another one is doing so in 6 months.

I'm sure that many others will be doing this also. As soon as their credit repairs, they will take advantage of the unbelievably low mortgage rates currently on offer. Rent money is dead money

[Titanic Las Vegas]

Originally Posted by OmegaSupreme

I'm sure that many others will be doing this also. As soon as their credit repairs, they will take advantage of the unbelievably low mortgage rates currently on offer. Rent money is dead money

Sure, people are forming huge lines to overpay for Las Vegas homes again. LOL.
Why would anyone buy a house when interest rates are too low?????
That means real estate is overpriced and inflated.
Interest rates from this point have nowhere to go but up and that makes RE a very poor investment.
When the FED loses control over BoND market and interest skyrocket housing prices will be cut in half.

Las Vegas housing market is driven by speculators. That is your local market.....speculators buying and selling to speculators.
Who cares about those desert poorly build worthless Las Vegas homes.

[Kitchen Witch]

Originally Posted by Titanic Las Vegas

Sure, people are forming huge lines to overpay for Las Vegas homes again. LOL.
Why would anyone buy a house when interest rates are too low?????
That means real estate is overpriced and inflated.
Interest rates from this point have nowhere to go but up and that makes RE a very poor investment.
When the FED loses control over BoND market and interest skyrocket housing prices will be cut in half.

Las Vegas housing market is driven by speculators. That is your local market.....speculators buying and selling to speculators.
Who cares about those desert poorly build worthless Las Vegas homes.

Who cares about those desert poorly built worthless Las Vegas homes?

You already said it bro!

The speculators, the investors turning the place into RENT VEGAS

[lvoc]

Originally Posted by Kitchen Witch

Who cares about those desert poorly built worthless Las Vegas homes?

You already said it bro!

The speculators, the investors turning the place into RENT VEGAS

Investors have generally stopped their interest in Las Vegas. The remaining speculative operators are virtually all flippers. And they are finding it much harder.

I would think the market will turn more and more to owner occupied as the investors take their profits and leave.

We will see. Watch the cash percentage.

[vtvette]

Originally Posted by Titanic Las Vegas

Why would anyone buy a house when interest rates are too low?????

Interest rates from this point have nowhere to go but up and that makes RE a very poor investment.

Yeah, I advise everyone I know to wait until interest rates are sky high before they buy.

Who wants to take out a mortgage when interest rates are low?

[oeccscclhjhn]

i don't think we're even close to sticking a fork in it.

[FrostyToasty]

Originally Posted by Titanic Las Vegas

Sure, people are forming huge lines to overpay for Las Vegas homes again. LOL.
Why would anyone buy a house when interest rates are too low?????
That means real estate is overpriced and inflated.
Interest rates from this point have nowhere to go but up and that makes RE a very poor investment.
When the FED loses control over BoND market and interest skyrocket housing prices will be cut in half.

Las Vegas housing market is driven by speculators. That is your local market.....speculators buying and selling to speculators.
Who cares about those desert poorly build worthless Las Vegas homes.

Troll alert.

[tijlover]

Originally Posted by BBMW

Never gonna happen. LV will always be auto-centric. The built out topology doesn't support it, the people who move to Vegas want the auto-centric, detached SFR, suburban design (or they wouldn't have moved to Vegas), and no one is going to raise taxes to build any kind of significant, non-road based transit system.

Someone hasn't been to car-centric Los Angeles lately, where 68% of the voters approved a half-cent sales tax, some time ago, to help get Los Angeleno's out of their cars finally. Take a tour sometime using a $6 Tap card, which you can buy, taking the free Green Shuttle to the Aviation stop on the Green line, which runs from Redondo Beach to Norwalk. And then there's the Blue line, which goes from Downtown L.A. to Long Beach. The Gold line which goes up past Pasadena to Arleta, and east towards Monterey Park. And the Expo line which goes to Culver City, and now be expanded to downtown Santa Monica. And the red line underground subway which goes up to North Hollywood.

And the Purple line, an underground subway, which goes from downtown L.A. to Koreatown, now being expanded to Westwood/UCLA at a cost of $16 billion!

And let's not forget the heavy-duty commuter lines, to Riverside/San Bernardino, Oxnard, Laguna Niguel, Burbank Airport, and Palmdale, 60 miles north!

And take a ride on Dallas' DART light rail system sometime, don't even need a car in car-centric Dallas anymore, and Houston is playing catch-up. And let's not forget car-centric Phoenix, now expanding their light rail system to downtown Mesa with plans for other lines. And car-centric Salt Lake city has installed a very enviable light rail system!

And Las Vegas? Yup! It figures, given the mentality of the people here, they approved a half-cent sales tax to fund the police instead of plowing it into infrastructure!

Oh, Melinneium generation, hurry up, hurry up! Become a big political force in Las Vegas and chase out those car-loving county commissioners and our car-loving, short-sighted Goodman's!

[lvoc]

This is out of school as we are on a Las Vegas thread. But something close to 75% of the LA drivers commute only by car. And something over 11% have a commute of more than an hour. .

Bus and other transport usage is virtually all low wage earners.

If they work on it for the next 50 years they will not get 10% of the populations on public transport.

Now let us go back to reality and Las Vegas.