[observer53]

It's okay to draw comparisons between LV and another city/area to make a point, but please don't steer into discussions of just that other location.

[lvoc]

Originally Posted by observer53

It's okay to draw comparisons between LV and another city/area to make a point, but please don't steer into discussions of just that other location.

YOu are saying that a contributor may make an untrue statement but it cannot be refuted if the refutation does not involve Las Vegas? Let me try and do it the hard way.

The population density of the Las Vegas Valley is roughly 4200 per square mile. Nassau County LI is roughly 4600 per Square Mile. But Suffolk County LI is roughly 1600 per square mile. So if you brought Suffolk County up to the population density of either Las Vegas or Nassau County you could add over 5 million to the Long Island population.

How is that?

[VegasVicsezhowdy]

1.) Is the skyrocketing price appreciation in Las Vegas economically sustainable?

2.) What about the chain of title issues associated with almost all Las Vegas foreclosures, any resolution yet?

3.) Realizing that the Hedgies are fully aware that apartment buildings are a far more cost effective and efficient way to make money from rents, can we conclude that the mass purchases of single family residences is a capital appreciation play and furthermore, once price point is achieved (easily accomplished by overbidding and driving up comps) they will dump all these properties causing a massive influx of supply?

4.) When this happens, then what?

[ScoopLV]

And 5.) When you're proven to be wrong, will you promise to quit asking rhetorical questions?

[SportyandMisty]

Originally Posted by logline

... Face it, Keynesian economics won. Printing money worked.

Not to be too technical, but printing money is Monetarism, not Keynesian economics.

[VegasVicsezhowdy]

Originally Posted by ScoopLV

And 5.) When you're proven to be wrong, will you promise to quit asking rhetorical questions?

Few topics deserve more attention and quite frankly I find it fascinating.

[VegasVicsezhowdy]

Originally Posted by SportyandMisty

Not to be too technical, but printing money is Monetarism, not Keynesian economics.

In layman's terms... organized counterfeiting.

[BBMW]

The hedgies can't just dump, or they'll cut their own throats. They have to sell slowly enough not to flood the market.

Also, the construction cost for multifamily is probably more per room than buying existing single family.

Originally Posted by VegasVicsezhowdy

1.) Is the skyrocketing price appreciation in Las Vegas economically sustainable?

2.) What about the chain of title issues associated with almost all Las Vegas foreclosures, any resolution yet?

3.) Realizing that the Hedgies are fully aware that apartment buildings are a far more cost effective and efficient way to make money from rents, can we conclude that the mass purchases of single family residences is a capital appreciation play and furthermore, once price point is achieved (easily accomplished by overbidding and driving up comps) they will dump all these properties causing a massive influx of supply?

4.) When this happens, then what?

[VegasVicsezhowdy]

"Las Vegas-area home sales fell below a year earlier for the 10th consecutive month in March as housing demand continued to outweigh the supply of homes on the market. Sales of lower-cost foreclosed properties remained at relatively low levels, while activity surged again in the mid-to-upper price ranges. This ongoing shift in market mix helped push the median sale price up nearly 35 percent from a year earlier".

DQNews - Las Vegas Home Sales Report

[lvoc]

One interesting piece. Outfit called Colfin has been buying heavily the last few months. Maybe 3% of the SFRs. They have been around for a while buying mostly below $150,000 and immediately renting them.

Recently (since mid March) the have started buying heavier product...up to over $400,000. And they don't appear to be renting them. So what are they doing? Hold six month and flip?

Stay tuned,