[ddrhazy]

Originally Posted by equid0x

I've noticed a trend that they seem to think all the "haves" are somehow multi-millionaires rolling in the dough when in reality that may make the same amount of money they do.

They don't consider rental income the same as income through a 9-5 job. It's unearned "dirty" income. There might be some people that have portfolios in the 10s of millions in Cali/NYC/Seattle, but after 4 properties, things start getting hectic and not worth the trouble.

If you take their theory to it's logical conclusion, all forms of investment are inherently evil. That CD earning 2% interest? That's providing money to a bank that is giving mortgages and gaining profit on the back of someone's labor.

[ddrhazy]

Originally Posted by equid0x

I'm really not getting all the bs about rents in Nevada. The rents here are dirt cheap compared to any other developed metro area. I know ppl renting 1 brs for $700/mth incl. utils on the west side a few miles from the strip (industry workers) in a neighborhood that I would label.. so-so. In the DC area rents like that haven't been available since the mid-90s.

My first apt on my own was $725/mth + all utilities in a so-so neighborhood on the bad side of town. No bedroom, it was an efficiency.

I'm also not getting what ppl are saying about it being a win-win to accept less rent. That's not a win-win. The landlord clearly lost in that one.

Giving a minor rent reduction to a long term tenant in a single family rental might be one thing. I have serious questions about the long term history many residents of Las Vegas would even have.

As far as empty houses go... I have noticed a lot of people here don't have alarm systems, cameras, and security companies. This seems pretty foolish to me. Every city dwelling back east had this stuff. Even apartments had them.

I guess I'm not seeing the wisdom that says to pay $250K+ for a house and then cheap out on the alarm system. Its like buying a Mercedes with cloth interior and no stereo or AC.

I agree. Rents are relatively cheap. Detroit and El Paso are cheaper but I wouldn't want to live in either place. I still think builders shouldn't be making large SFRs and should be focusing on nice but affordable 2 bdrm condos. But apparently they can sell those McMansions, so whatever.

[equid0x]

Originally Posted by ddrhazy

I agree. Rents are relatively cheap. Detroit and El Paso are cheaper but I wouldn't want to live in either place. I still think builders shouldn't be making large SFRs and should be focusing on nice but affordable 2 bdrm condos. But apparently they can sell those McMansions, so whatever.

Yeah. I went on a rant on here some time back about that. Affordable condos and small starter home type SFRs for families don't really seem to exist. They're also not big on townhouses here. Tons of townhouses or in urban areas and row-houses back east.

I would have preferred an old school type 1 story rancher on a 1/2 or 3/4 acre lot when I moved here but unless you wanted to live in a sketchy area they weren't really available or were basically abandoned and needed full rehab. Spring Valley had some I didn't label as sketchy but at the time I bought those neighborhoods were looking pretty touch-and-go so I didn't buy there. I was open to a project house (and I bought one) but I didn't want a gut-job, either.

After being here several years, now... the new stuff they're building... I'm kinda shocked at the size of the houses, how close they are together, and the pretty much complete lack of any yards. Back east I don't remember them allowing builders to build such houses so close together, mainly due to fire concerns.

Some of the new stuff I am seeing here it literally looks like there are about 5 or 6 feet between the houses. The zero lot houses it looks like 3 ft or less which seems to me to defeat the advantage of a zero lot which was supposed to be that while one side was crammed up on a neighbor you could at least get a decent yard and driveway on the other - so long as you were willing to concede access for maintenance.

[Katie the heartbreaker]

Good news today out of North Las Vegas.

The ordinance gives the city power to put strict penalties on anyone violating emergency orders from the state or city, including landlords and property managers who violate the state's moratorium on residential and commercial evictions during the COVID-19 pandemic.
Violators are subject to administrative fines of up to $1,000 per day, revocation of business licenses or permits, and/or misdemeanor charges carrying penalties of up to six months in jail and a fine of up to $1,000.

Councilman Isaac Barron initiated the changes after receiving complaints of people around the valley of being locked out of their homes despite Gov. Steve Sisolak's emergency directive on March 29 that expressly prohibits most evictions of tenants.

I personally think all the slumlords involved in this should permanently lose their business licenses and permits. The majority of landlords and property managers are good people who would never do this to tenants in such a time, so I am only referring to the slumlords here.



https://www.ktnv.com/news/north-las-...ergency-powers

[eventusstultorummagister]

The worm has turned.

[eventusstultorummagister]

Originally Posted by lvmensch

Don't know where you are getting your numbers but they are wrong. Homes for sale is down a bit. Sales are up a bit.

Home prices set new record, but sales shrink in March

https://www.8newsnow.com/news/local-...les-also-high/

"the number of sales shrank."

"the number of canceled deals doubled from a year ago."

[eventusstultorummagister]

To be a liar is to state falsehoods

[lvmensch]

Originally Posted by eventusstultorummagister

Home prices set new record, but sales shrink in March

https://www.8newsnow.com/news/local-...les-also-high/

"the number of sales shrank."

"the number of canceled deals doubled from a year ago."

You really need to learn how to deal with these numbers.

SFRs sold in March 2020 - 2758
SFRs sold in Feb 2020 - 2471
SFRs sold in March 2019 - 2621

Not sure why cancelled deals turn you on. But we will see in time.

[eventusstultorummagister]

Originally Posted by lvmensch

Not sure why cancelled deals turn you on. But we will see in time.

The ship is sinking but the Captain has a plan...
Tell everyone on board to drink the water, to stop the ship from sinking.

[08grad]

Originally Posted by equid0x

Yeah. I went on a rant on here some time back about that. Affordable condos and small starter home type SFRs for families don't really seem to exist. They're also not big on townhouses here. Tons of townhouses or in urban areas and row-houses back east.

I would have preferred an old school type 1 story rancher on a 1/2 or 3/4 acre lot when I moved here but unless you wanted to live in a sketchy area they weren't really available or were basically abandoned and needed full rehab. Spring Valley had some I didn't label as sketchy but at the time I bought those neighborhoods were looking pretty touch-and-go so I didn't buy there. I was open to a project house (and I bought one) but I didn't want a gut-job, either.

After being here several years, now... the new stuff they're building... I'm kinda shocked at the size of the houses, how close they are together, and the pretty much complete lack of any yards. Back east I don't remember them allowing builders to build such houses so close together, mainly due to fire concerns.

Some of the new stuff I am seeing here it literally looks like there are about 5 or 6 feet between the houses. The zero lot houses it looks like 3 ft or less which seems to me to defeat the advantage of a zero lot which was supposed to be that while one side was crammed up on a neighbor you could at least get a decent yard and driveway on the other - so long as you were willing to concede access for maintenance.

The BLM is partly to blame for that. They hold the rights to thousands of acres of land outside the city and auction it off, but only auction off large lots (in increments of 2.5 acres) and very few of these at a time to prevent anyone without $500,000 in their bank account from buying. The cheapest lot sold last auction was 2.5 acres for $460,000.

Builders deserve blame too as they have no social responsibility and only care about maximizing profits, which means cram as many homes as the planning commissioners allow them to.

But above all, like anything else that is sold in the economy, if people stopped buying it, sellers would stop making it. Home buyers are not completely innocent here. Today's home buyers loathe yard work and home maintenance, and the new builds reflect this demand.