[ddrhazy]

Until a more through analysis of the backlog is done, I'm not sure what is in store for LV.

[okaythen01]

Originally Posted by airics

I love when my tenants pay my mortgage. I love how people are still bi$$$$ng about homes going up. You can still buy a nice home under a grand a month loan. What can you rent? 1500sq ft tiny home?.. Still shaking my head......if I had the cash, I would still be buying.... IMO we still have a year of 20% increase.

what will drive the 20% yearly increase? tourism? more jobs?

[bayview6]

Originally Posted by okaythen01

what will drive the 20% yearly increase? tourism? more jobs?

Supply and demand. More folks are now moving into the Valley than leaving it. Then there are the renters who can own for what they are now paying in rent.

[von949]

Originally Posted by okaythen01

what will drive the 20% yearly increase? tourism? more jobs?

New transplants.

In the nearly 5 years I have lived here I have been aware of 50-100 homes sold. None have been by locals. Newly stationed military members, transferred government contractors, new retirees and out of town investors.

None of these groups are affected by local job growth or economy. If anything they are taking advantage of our weak economy.




Sent from watch

[UTES]

Originally Posted by von949

In the nearly 5 years I have lived here I have been aware of 50-100 homes sold. None have been by locals. Newly stationed military members, transferred government contractors, new retirees and out of town investors.

None of these groups are affected by local job growth or economy. If anything they are taking advantage of our weak economy.

Ding Ding Ding... I think we have a winner.

Bill

[von949]

Originally Posted by UTES

Ding Ding Ding... I think we have a winner.

Bill

I honestly never met a long time local(5-10+ years) that has decided to buy a home after saving, moving up in their career or just to take advantage of the housing market. It is as if only the new residents are able to do this. Maybe it's "once you rent in Vegas, you can't go back?"

I don't know. Us military folks are the same way. Half of us have a RE agent and a list of homes to look at before making it here. Then I have the few co-workers who have been here over 10 years and still on the fence about if they will buy a home or not. 10 years?

10+ years living in Vegas means that someone has been here before the boom, during the boom, peak boom, after the crash, during the decline, during the beginning of the recovery, monthly price rise and what we are currently experiencing.

And thy are still on the fence.

I do have a friend that is waiting on the market to drop again THEN he will take advantage of the market. Lol




Sent from watch

[airics]

I go by the "spaghetti bowl" test. In 2004, it was busy. In 2006, it was packed. In 2008, it slowed down. In 2010, it was dead. Today, its busy....2004 levels..

[zumaboy]

Originally Posted by von949

New transplants.

In the nearly 5 years I have lived here I have been aware of 50-100 homes sold. None have been by locals. Newly stationed military members, transferred government contractors, new retirees and out of town investors.

None of these groups are affected by local job growth or economy. If anything they are taking advantage of our weak economy.

This. And it's the exact description of my situation. My wife and I are moving to LV next week and will be buying a house as soon as our current one sells.

[ScoopLV]

Don't worry, you'll get the last laugh. Clown-shoes is still going to be renting in 20 years -- bitter, old, angry and most likely poor. The investment "strategy" this guy supports (buy gold and ammo) is a one-way ticket to the poor house.

[boboluv]

i bought last october from los angeles.