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Old 08-11-2011, 08:40 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,208,368 times
Reputation: 2661

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Quote:
Originally Posted by tony soprano View Post
YoY, Vegas housing prices have outperformed Phoenix. Although Phoenix is a worthy challenger, Vegas still owns the title for worst performing peak-to-trough housing prices.
As long as you leave Riverside/San Bernadino off the set.

Note that all three are awful...So it would appear that more than "diversification" is required to avoid the bottom end.
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Old 08-11-2011, 08:43 PM
 
Location: Sunrise
10,864 posts, read 16,996,765 times
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Quote:
Originally Posted by olecapt View Post
As long as you leave Riverside/San Bernadino off the set.

Note that all three are awful...So it would appear that more than "diversification" is required to avoid the bottom end.

We don't know what diversification might do because we've never tried. I would certainly rather have Boston's housing problems than ours -- that's for sure.
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Old 08-11-2011, 08:47 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,208,368 times
Reputation: 2661
Quote:
Originally Posted by ScoopLV View Post
We don't know what diversification might do because we've never tried. I would certainly rather have Boston's housing problems than ours -- that's for sure.
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?
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Old 08-11-2011, 09:04 PM
 
1,347 posts, read 2,448,818 times
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Quote:
Originally Posted by olecapt View Post
As long as you leave Riverside/San Bernadino off the set.

Note that all three are awful...So it would appear that more than "diversification" is required to avoid the bottom end.
You should probably start reading the info you post a little closer. The info you provided earlier in this thread indicated that contrary to your claim, Vegas' GDP had fallen further than Riverside's during the downturn. And the Yahoo linked article you've recently provided indicates that Vegas housing prices have fallen further than Riverside's. Generally speaking, when I'm trying to post information that supports my view, I'll post information that actually agrees with me. YMMV.

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.
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Old 08-11-2011, 09:21 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,208,368 times
Reputation: 2661
Quote:
Originally Posted by tony soprano View Post
You should probably start reading the info you post a little closer. The info you provided earlier in this thread indicated that contrary to your claim, Vegas' GDP had fallen further than Riverside's during the downturn. And the Yahoo linked article you've recently provided indicates that Vegas housing prices have fallen further than Riverside's. Generally speaking, when I'm trying to post information that supports my view, I'll post information that actually agrees with me. YMMV.

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.
Was not in this thread...but it was...

Phoenix 187,243 196,615 196,850 190,725 13
Riverside-San , CA 112,559 115,207 113,705 110,565 24
Las Vegas-Paradise, NV 92,326 98,387 97,663 91,742 32

Between 2006 and 2009...the latest data available, Las Vegas was down from 92,326 to 91,742 or 0.632%.

Riverside/San Bernadino was down from 112,559 to 110,565 or 1.71%

So no you did not get it correct...yet again.
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Old 08-11-2011, 09:26 PM
 
1,347 posts, read 2,448,818 times
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Quote:
Originally Posted by olecapt View Post
Between 2006 and 2009...the latest data available, ...
2009? Seriously? 2009?? Yeah, nothing much has happened to housing prices in the last two years. That's pure genius.
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Old 08-11-2011, 09:30 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,208,368 times
Reputation: 2661
Quote:
Originally Posted by tony soprano View Post
2009? Seriously? 2009?? Yeah, nothing much has happened to housing prices in the last two years. That's pure genius.
Always change the subject when you get nailed...

GDP Tony...then we get to housing prices.

Which is also kind of interesting and not particularly favorable to Riverside/San Bernadino over the last year...but you knew that didn't you?
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Old 08-11-2011, 09:40 PM
 
1,347 posts, read 2,448,818 times
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Quote:
Originally Posted by olecapt View Post
Always change the subject when you get nailed...
Yeah, you really nailed me with two year old undocumented data. What a sham.
Quote:
GDP Tony...then we get to housing prices.

Which is also kind of interesting and not particularly favorable to Riverside/San Bernadino over the last year...but you knew that didn't you?
Yes, I did know because unlike you, I actually read the data I post. Had you actually bothered to read the data that you linked to, you would have known that peak-to-trough, Vegas' GDP had fallen further than Riversides. Your assertion that Vegas has weathered the downturn better than Riverside is fiction.
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Old 08-11-2011, 09:49 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,208,368 times
Reputation: 2661
Quote:
Originally Posted by tony soprano View Post
Yeah, you really nailed me with two year old undocumented data. What a sham. Yes, I did know because unlike you, I actually read the data I post. Had you actually bothered to read the data that you linked to, you would have known that peak-to-trough, Vegas' GDP had fallen further than Riversides. Your assertion that Vegas has weathered the downturn better than Riverside is fiction.
The source of the data was provided and is the only real source. Sorry about that.

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.

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.

Sorry Tony...I know it hurts you...but Vegas did fine with respect to Riverside...and continues to do so.
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Old 08-11-2011, 10:02 PM
 
72 posts, read 110,751 times
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Quote:
Originally Posted by olecapt View Post
The source of the data was provided and is the only real source. Sorry about that.

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.

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.

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