[tony soprano]

Originally Posted by olecapt

The source of the data was provided and is the only real source. Sorry about that.

The source of your two year old data was provided? I must have missed it. Do you provide your clients with two year old price comps? "Here are the comps for your neigborhood. Yes, the info is two years old but it should be in the ballpark."

2006 was before peak...and removed all that irrelevant junk. From a point in time just before it went to the peak to the last point of which a measure is available LV did better. And I suspect when the 2010 data appears it will be the same way.

And I suspect your 2010 data will likely arrive in 2012 and hold the same relevancy as your current two year old data. I anxiously await.

Overall in fact all three of these cities did very badly. Well off the national average. Showing that diversification was not a variable that separated them.

I repeat - Diversification is no guarantee of prosperity during a downturn. However, an economy focused on tourism and leisure is guaranteed to lag diversified economies during a downturn.

Sorry Tony...I know it hurts you...but Vegas did fine with respect to Riverside...and continues to do so.

Ah, well we're making some progress now. Vegas may have done "fine" relative to Riverside, but your assertion that Vegas has done better than Riverside or Phoenix is a pure fabrication.

[tony soprano]

Originally Posted by Tagalog

Pretty hard to believe since I can drive to any community in Vegas and see tons of empty homes that the banks haven't foreclosed on.

He is of the belief that if you repeat something often enough, and with conviction, people will believe you.

[ScoopLV]

Originally Posted by olecapt

We don't know what diversification might do because we have no intention of making the investment needed to try it.

Boston Housing? YOu lost your mind?

Lost my mind? Hardly. If our home was in Boston, MA instead of Las Vegas, NV, we would still have about 80% of our nest egg in equity -- instead of 45%.

So, yes -- I would rather have a Boston homeowner's problems than my own. But I'm happy to not own a snow shovel or a lawnmower. And I prefer my cost of living, taxes, and overall quality of life to that of Beantown(although Fenway season tickets would be nice right now). But equity-wise, they have the advantage.




PS -- This hair splitting about who's the worst off (Phoenix, Vegas or San Bernardino) is ridiculous. I've lived in the third world. "Worst off" is Rwanda, circa 1993. Or Iraq, circa 2003. Or Cambodia, circa 1977.

Most people here have no idea what "bad off" means. Let alone "worst off."

[eventusstultorummagister]

Originally Posted by Tagalog

Pretty hard to believe since I can drive to any community in Vegas and see tons of empty homes that the banks haven't foreclosed on.

Didn't you hear? The government is going to convert those homes into Section 8 rentals. Problem solved.

[eventusstultorummagister]

Originally Posted by eventusstultorummagister

What's their unemployment rate compared to Vegas?

June 2011 Unemployment Rates:

Phoenix = 9%

Las Vegas = 13.8%

[eventusstultorummagister]

Originally Posted by tony soprano

he is of the belief that if you repeat something often enough, and with conviction, people will believe you.

[olecapt]

Originally Posted by eventusstultorummagister

June 2011 Unemployment Rates:

Phoenix = 9%

Las Vegas = 13.8%

The unemployment rate in the Riverside-San Bernardino-Ontario MSA was 14.2 percent in June. 2011, up from a revised 13.2 percent in May 2011 ...

CA Labor Board

Give it up. Three cities in a triangle. Las Vegas is mostly the middle one.

[olecapt]

Originally Posted by eventusstultorummagister

[]

And the Las Vegas Doomers can never stand truth...

[olecapt]

Originally Posted by ScoopLV

Lost my mind? Hardly. If our home was in Boston, MA instead of Las Vegas, NV, we would still have about 80% of our nest egg in equity -- instead of 45%.

So, yes -- I would rather have a Boston homeowner's problems than my own. But I'm happy to not own a snow shovel or a lawnmower. And I prefer my cost of living, taxes, and overall quality of life to that of Beantown(although Fenway season tickets would be nice right now). But equity-wise, they have the advantage.

And a third of the house that you own. Boston prices are 3X
Vegas.

PS -- This hair splitting about who's the worst off (Phoenix, Vegas or San Bernardino) is ridiculous. I've lived in the third world. "Worst off" is Rwanda, circa 1993. Or Iraq, circa 2003. Or Cambodia, circa 1977.

Most people here have no idea what "bad off" means. Let alone "worst off."

Of course it is absurd. All three cities are about the same. The doomers can't deal with that. They have to have Las Vegas the worst.

[tony soprano]

Some people just don't care for head-in-the-sand pollyannas that ignore and misrepresent data in order to sell homes. You hold out that diversification wouldn't have helped Vegas during the downturn because Vegas has outperformed diversified economies such as Riverside and Phoenix. The problem is your position doesn't stand up to scrutiny. It's a fabrication. A baseless opinion presented as fact.