[Katie the heartbreaker]

Originally Posted by airics

Not even close when adjusting for inflation

I did the research on this and yes, nationally houses prices surpassed all time highs even adjusted for inflation. Locally, we are lagging because we never fully recovered unlike other cities. We are at 75% of pre-recession highs after adjusting for inflation.


https://fred.stlouisfed.org/series/MSPUS

[airics]

Originally Posted by ddrhazy

If you believe a bubble is coming, you should sell your own residence and rent. However, there are still multi million dollar deals happening where huge hedge funds are buying apartment complexes for $200k+ per unit, so parties with far more money on the line have high confidence in the market.

Exactly. No bubble burst till at least 2024 and I doubt even then

[Jeers McGee]

There's no rule Vegas has to get back to prioR years high.That would mean my $150,000 condo will be worth $500,000 in the near future...... Lol.

[Jeers McGee]

Originally Posted by Katie the heartbreaker

I did the research on this and yes, nationally houses prices surpassed all time highs even adjusted for inflation. Locally, we are lagging because we never fully recovered unlike other cities. We are at 75% of pre-recession highs after adjusting for inflation.


https://fred.stlouisfed.org/series/MSPUS

Hedge funds don't always make money. The smart ones bought in 2011.2012.2013. The idiot ones are buying Now.

[Svoboda]

"Budget hawks noted with dismay that the rising deficit was taking place at a time of strong economic growth, when economists say fiscal policy should be more restrained."

https://thehill.com/policy/finance/4...ficit-for-2019

And the Fed is still going to cut interest rates -- multiple times even. Then if you read the article, it says both sides of the aisle want to increase spending. Now, I'm not get at the ole trigonometry, but the algebra doesn't add up.

[JonathanLB]

Originally Posted by Jeers McGee

There's no rule Vegas has to get back to prioR years high.That would mean my $150,000 condo will be worth $500,000 in the near future...... Lol.

Vegas as with all markets will go way beyond previous highs. That’s literally how the world works. Just as you can’t see a movie for 5 cents anymore, you won’t be able to buy any house no matter what it is for under a million one day, whether that’s 40 years from now or 60 or whatever. Prices rise over time, not linearly, but as a trend over the decades.

Vegas remains a very cheap market for what it is. I realize there are always people on the wrong side of the line who just don’t get that, and they may even feel attacked if someone says that, but if you can buy an amazing house for under a million it’s a cheap market. The kind of house I got would run me $5-7 million in Los Angeles for a similarly good area, so you’re going to have people fleeing when it’s right next door and seeing these deals just as I have and thinking holy cow your houses are cheap. No, they’re not cheap if you’re making $10/hour or whatever but that’s a very narrow perspective. There is so much money in the world and it’s highly mobile.

There will always be cheaper, more affordable areas but as long as the nice areas remain so relatively cheap it’s irresistible. You have shacks in SF for $1 million and that’s a huge city, Vegas isn’t, so it doesn’t take that many people from these big West Coast cities who decide its retirement time and for them downsizing their expenses means a $500-800K house is peanuts. They can’t believe what their money buys in this market. Combine that with no state income tax, the long term future for Vegas real estate is fantastic.

Long term future for CA real estate? I have no idea. Great job prospects, economy, lots of big companies, but prices are so high already and taxes so high, homeless issues becoming worse by the year, people fleeing in droves, it’s really hard to say. They have a lot of pros and a lot of cons. I have quite a lot of money in CA so I wish them the best, just glad I don’t live there.

[Katie the heartbreaker]

Originally Posted by airics

Exactly. No bubble burst till at least 2024 and I doubt even then

No way, no how. I do not care who is in office, it will happen before 2024. Yield curve inversions typically mean we have "around" 18 months before a recession occurs.

Originally Posted by JonathanLB

Vegas remains a very cheap market for what it is.

It was $125,000 for a median house just 7 years ago. That was a very cheap market considering it should be around $200,000 as I have shown before. $300,000 is not cheap.

I have a coworker who was renting in 2015 and said "I am not a buyer at these prices. I will wait until they come down." At the time, he had told me he wished he had bought just a few years before but was not ready at the time. Now he is downright angry that he did not buy in 2015. He said he is now sick of waiting. IMO, he did the right thing as long as he can continue to have patience. He doesn't see it that way.

[Jeers McGee]

Vegas isnt cheap. A few years back. Definitely. Vegas has casinoS , it doesnt have silly Con valley type jobs nor does it have John Hopkins type infrastructure.

A Honduran can walk over the border and be a busboy. Thats Vegas.

[airics]

Originally Posted by Katie the heartbreaker

No way, no how. I do not care who is in office, it will happen before 2024. Yield curve inversions typically mean we have "around" 18 months before a recession occurs.






It was $125,000 for a median house just 7 years ago. That was a very cheap market considering it should be around $200,000 as I have shown before. $300,000 is not cheap.

I have a coworker who was renting in 2015 and said "I am not a buyer at these prices. I will wait until they come down." At the time, he had told me he wished he had bought just a few years before but was not ready at the time. Now he is downright angry that he did not buy in 2015. He said he is now sick of waiting. IMO, he did the right thing as long as he can continue to have patience. He doesn't see it that way.

300 is cheap for what you get. If that house goes back down to 125, I’ll buy 4 of them. You won’t see a 50% drop, or even 25% ever again in Vegas. Meanwhile, the ones that know it all and predicting a crash again, keep paying rent in their apartments and don’t have any thing to invest with.

[Jeers McGee]

3-2 cookie cutter sfr median priced Vegas home or 3.11% 5 yr CD.

Right here right now just got me some cd money yesterday for more thsn chump change.