Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 03-17-2020, 05:40 PM
 
Location: Lone Mountain Las Vegas NV
18,058 posts, read 10,401,462 times
Reputation: 8828

Advertisements

Quote:
Originally Posted by rhuff80 View Post
Well, I mean it's akin to the number of CV19 cases in the state. The data is behind, so where you think you're at, you're not.

Obviously RE market is well behind what we think it is, just like the CV19 cases. Just because the official data isn't there, doesn't make it untrue.

Only time will tell how significant this event is.
The relevant data is pretty much real time. A few transactions may be delayed a day or two but the numbers are pretty much real time.

There is the contract period delay which says you will not see most March transactions until the end of the month and April but we are not seeing large discrepancies between the list price and the selling price. So we are pretty sure the selling prices are not down 10 or 20% or such.
Reply With Quote Quick reply to this message

 
Old 03-18-2020, 12:43 AM
 
2,723 posts, read 4,771,075 times
Reputation: 1042
Quote:
Originally Posted by lvmensch View Post
Not at this point for RE. No signs of a significant break yet. Should have a better view by months end.
Facing a protracted infarction of the global economy, Central Banks have little room left to maneuver, having spent all their ammo in the last decade of expansive monetary policy. At this juncture, even if they throw money from helicopters, it will not end up in circulation but instead remain confined to bank accounts and/or savings. No real transmission of liquidity to the productive economy will be accomplished because if you can't travel there is nothing upon which to spend... especially when goods or services are not available!


The World is now headed into recession in 2020, that's a forgone conclusion. The only question remains is how prolonged and intense it will be.


As everyone knows, the first shoe to drop is tourism. It's difficult to predict the resulting loss of revenue but 25-30% for the 1st quarter of 2020 on an annual basis is probably a safe bet.


ESM
Reply With Quote Quick reply to this message
 
Old 03-18-2020, 10:03 PM
 
743 posts, read 970,353 times
Reputation: 531
A couple of days ago I thought 20% was an overestimate...read a lot today. I think it’s accurate. 100% unavoidable recession.
Reply With Quote Quick reply to this message
 
Old 03-18-2020, 10:41 PM
 
1,254 posts, read 1,063,274 times
Reputation: 3077
I do not know much about real estate other than it is in a huge bubble. This guy below is a real estate agent in California, so he knows much more about it than I do. He says we are going to have a massive crash in real estate like we have never seen.



https://www.youtube.com/watch?v=3yVwJfnxpDQ
Reply With Quote Quick reply to this message
 
Old 03-18-2020, 11:48 PM
 
16 posts, read 25,702 times
Reputation: 54
Katie, as the starter of this thread, I'm going to ask a favor, and that favor is that you stop posting YouTube videos in this thread. Nobody likes them. Thank you!
Reply With Quote Quick reply to this message
 
Old 03-19-2020, 12:33 AM
 
779 posts, read 474,451 times
Reputation: 1462
Quote:
Originally Posted by ToolAcademy View Post
Katie, as the starter of this thread, I'm going to ask a favor, and that favor is that you stop posting YouTube videos in this thread. Nobody likes them. Thank you!
I mean, I agree, but I don't think you can speak for everyone. People are going to post what they want.
Reply With Quote Quick reply to this message
 
Old 03-19-2020, 12:47 AM
 
1,254 posts, read 1,063,274 times
Reputation: 3077
Quote:
Originally Posted by ToolAcademy View Post
Katie, as the starter of this thread, I'm going to ask a favor, and that favor is that you stop posting YouTube videos in this thread. Nobody likes them. Thank you!

If you left out the underlined part, I would respect you and do what you asked even though I do not have to. I am respectful to everyone and always follow the terms of service of the forum. In other words, don't tell me what I can or cannot post.
Reply With Quote Quick reply to this message
 
Old 03-19-2020, 02:37 AM
 
Location: Las Vegas
2,880 posts, read 2,819,023 times
Reputation: 2465
Quote:
Originally Posted by ToolAcademy View Post
Katie, as the starter of this thread, I'm going to ask a favor, and that favor is that you stop posting YouTube videos in this thread. Nobody likes them. Thank you!
Speak for yourself tool
Reply With Quote Quick reply to this message
 
Old 03-19-2020, 03:57 AM
 
2,723 posts, read 4,771,075 times
Reputation: 1042
Quote:
Originally Posted by aardogfsu View Post
A couple of days ago I thought 20% was an overestimate...read a lot today. I think it’s accurate. 100% unavoidable recession.
There is enormous pressure building up from different sectors:

1. People who have lost (or will lose) their jobs will not be able to meet their mortgage payments
2. AirBnB's won't have any business and won't be able to make mortgage payments
3. Investors, after losing their shirts on stock market or corporate bankruptcies will be thinning their real estate portfolios, so it's likely there will be foreclosures and lots of new inventory flooding the market

The main driver (as always) will be panic, as RE begins to drop everyone tries to get ahead of the curve and get out while they can.
Reply With Quote Quick reply to this message
 
Old 03-19-2020, 08:55 AM
 
15,882 posts, read 14,538,304 times
Reputation: 12009
I think for a period, it will be impossible to sell anything.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2022 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
View detailed profiles of:

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top