[VegasVicsezhowdy]

Real Estate Bubbles, there are basically 4 stages, we are currently in Stage #3.

STAGES:

1. Enthusiastic investors and speculators chasing immediate short-term returns cause the anomaly to last for longer than expected.

2. Puzzled by the failure of prices to return to fundamentals or of unsustainable policies to generate a crisis, a theory evolves explaining that *this* time it really is sustainable.

3. Fortified by these theories, yet more investors and speculators chasing short-term returns flood into the market, causing the anomaly to last for *much* *much* longer than originally expected.

4. The supply of greater fools comes to a sudden end; the crash comes; the crisis ensues.

HOWDY PODNERS!
Vegas Vic

[observer53]

Merging with the real estate market thread, where it belongs.

[lvoc]

Originally Posted by VegasVicsezhowdy

If his license was revoked why is it not listed here?

Nevada Real Estate Division

Also, he is listed as the current President of Sherlock Homes Realty Inc.

Why would I know or care? He is not an RE Agent. [mod cut-- unnecessary]

[lvoc]

Originally Posted by VegasVicsezhowdy

Real Estate Bubbles, there are basically 4 stages, we are currently in Stage #3.

STAGES:

1. Enthusiastic investors and speculators chasing immediate short-term returns cause the anomaly to last for longer than expected.

2. Puzzled by the failure of prices to return to fundamentals or of unsustainable policies to generate a crisis, a theory evolves explaining that *this* time it really is sustainable.

3. Fortified by these theories, yet more investors and speculators chasing short-term returns flood into the market, causing the anomaly to last for *much* *much* longer than originally expected.

4. The supply of greater fools comes to a sudden end; the crash comes; the crisis ensues.

HOWDY PODNERS!
Vegas Vic

There are indication that prices are below "sustainable" And that they are returning to a sustainable level. That would be somewhere around replacement cost.

It would therefore appear we are not, at least yet, in bubble mode.

[NastyVegas]

Originally Posted by 007 license to sell

[FONT=Courier New]If you were wondering if there were still good buys out here for real-estate properties. Some analysts say yes because the properties are still under valued.[/FONT]

[URL="http://erj.reviewjournal.com/ct/uz5384148Biz17036482"][FONT=Courier New]Las Vegas seen as most undervalued home market in U.S.[/FONT][/URL]

[FONT=Courier New]The only bubbles in Las Vegas are in nightclub champagne.[/FONT]

The members that can't afford the night club champagne are the ones complaining.

[lvoc]

Originally Posted by lvnyc

For what it's worth:

America's Most Distressed Cities - Business Insider


And here's another one:

US Cities With Most Foreclosures - Business Insider

Anyone take a look at this site? Moderator cut: link removed, linking to competitor sites is not allowed

One fascinating finding. This local power purchasing index says that Denver and Las Vegas are the two best places to live measured in NYC cost/value equivalent.

The methodology is a little murky but what the hell...

[ddrhazy]

Originally Posted by lvoc

Anyone take a look at this site? Moderator cut: link removed, linking to competitor sites is not allowed

One fascinating finding. This local power purchasing index says that Denver and Las Vegas are the two best places to live measured in NYC cost/value equivalent.

The methodology is a little murky but what the hell...

Yeah it's a good website. I linked to it a few pages back and sorted all the cities in USA by cost of rent. If owning is already a better deal than renting then the cost effectiveness of that list is even MORE in favor for purchasing in Las Vegas.

But real estate costs are only one equation to a standard of living analysis. For many, the choice between living in Detroit or Kansas vs Las Vegas is not simply an option.

Here's another good website that compares cities for their cost of living, like you said, murky methodology but what the hell.

Cost of Living

[Saltimbockar]

I guess new homeowners are happy with the latest hype and speculators as well. Homes going up is not a good news for future buyers, especially when appreciation is only due to manipulation and not backed by fundamentals.

Last time I checked Las Vegas had highest unemployment is the country.
Most jobs are service low paying jobs.
Over 50% home owners with mortgage are still underwater.
My property tax is going up because of this phony recovery.
I bought by house for retirement and I don't intend to sell it.
Now because of this hype my property tax is going up.
I don't won't higher prices. This is only good for investors who don't intend to live here.
Half I my neighborhood is rentals now.
It's going down hill.

[lvoc]

Originally Posted by ddrhazy

Yeah it's a good website. I linked to it a few pages back and sorted all the cities in USA by cost of rent. If owning is already a better deal than renting then the cost effectiveness of that list is even MORE in favor for purchasing in Las Vegas.

But real estate costs are only one equation to a standard of living analysis. For many, the choice between living in Detroit or Kansas vs Las Vegas is not simply an option.

Here's another good website that compares cities for their cost of living, like you said, murky methodology but what the hell.

Cost of Living

I prefer the NY Times CofL Calculator...

The New York Times - Jobs - Salary Tools

There is large variability between the calculators and Gov Statistics. Not really sure who to believe.

[lvoc]

Originally Posted by Saltimbockar

I guess new homeowners are happy with the latest hype and speculators as well. Homes going up is not a good news for future buyers, especially when appreciation is only due to manipulation and not backed by fundamentals.

The fundamentals easily support a rise in Home prices. We are way below replacement cost and below the long term trend line.

Manipulation is way down not up.

Last time I checked Las Vegas had highest unemployment is the country.

Nope. Not nearly.

Most jobs are service low paying jobs.

Nope Household income is relatively high.

Over 50% home owners with mortgage are still underwater.

Not for long. At this rate more than half of those will be above water by year end.

My property tax is going up because of this phony recovery.

YOur taxes have gone down now for five years in a row. A little recovery kill you?

bought by house for retirement and I don't intend to sell it.
Now because of this hype my property tax is going up.
I don't won't higher prices. This is only good for investors who don't intend to live here.
Half I my neighborhood is rentals now.
It's going down hill.

Best way to lower rentals and increase owner occupancy is higher prices.