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Old 04-12-2009, 10:15 AM
 
Location: state of enlightenment
2,403 posts, read 5,241,188 times
Reputation: 2500

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Riskiest Places For U.S. Homeowners - Forbes.com

Las Vegas, Nev.

(Las Vegas-Paradise metro area)

Percent Nonprime: 24.1%

Population: 1,863,600

Unemployment Rate: 10.0%

Foreclosure/REO Rate: 8.2%

 
Old 04-12-2009, 10:27 AM
 
Location: state of enlightenment
2,403 posts, read 5,241,188 times
Reputation: 2500
Default LV housing decline is accelerating

Ten Best And 10 Worst U.S. Housing Markets - Forbes.com

Prices are dropping quickly (down 4.81% since last month and 33% in the last year), the pace of decline is accelerating at the third-fastest rate in the nation,
 
Old 04-12-2009, 10:38 AM
 
1,410 posts, read 3,319,508 times
Reputation: 952
Reos, my question is "WHY?" Why do you feel it is your duty as a resident of New York to inform the locals what is going on in their city?
 
Old 04-12-2009, 10:43 AM
 
815 posts, read 2,052,435 times
Reputation: 540
Not everybody on this forum is a local. Why do you feel it is your duty as a local to chastise the motives of a post?
 
Old 04-12-2009, 11:08 AM
 
Location: state of enlightenment
2,403 posts, read 5,241,188 times
Reputation: 2500
Quote:
Originally Posted by jjameson922 View Post
Reos, my question is "WHY?" Why do you feel it is your duty as a resident of New York to inform the locals what is going on in their city?
I'm considering moving to LV among other places. It's information others might be interested in also. Now, will you stop whining?
 
Old 04-12-2009, 11:54 AM
 
762 posts, read 1,562,309 times
Reputation: 530
It is a perfect time to buy
I did last month
Las Vegas is so diffrent from NY, do you really want to live here is the #1 question
 
Old 04-12-2009, 12:30 PM
 
Location: Here and there, you decide.
12,908 posts, read 27,995,060 times
Reputation: 5057
Quote:
Originally Posted by geos View Post
I'm considering moving to LV among other places. It's information others might be interested in also. Now, will you stop whining?
sick and tired of non locals posting news that we already know.... and if its so bad, why do you consider even coming here.. stay in your glorified new york!
 
Old 04-12-2009, 12:33 PM
 
391 posts, read 1,713,825 times
Reputation: 143
Still up 31.4% since 2000, which means prices can, indeed, fall further.

I've figured we'd see 2000-2001 prices when this bottomed, but I consider the following positives for the housing sector. Note that 2003 prices are arguably "fair value", but bubbles popping always overshoot on the correction.

1) Accelerating price declines is typical of "capitulation" and usually a sign of things bottoming. But that acceleration has to run its course, so how much further is a tough one. Most likely we'll see at least early 2002 prices, on average, before all is said and done.

2) The stock market may have bottomed. That is a HUGE factor for investors. Still a long way to go to recover, but when people start seeing some gains in their portfolio they'll have some money to put to work diversifying a bit.

3) The stimulus is going to have some effect. How long or how much it impact ultimately is a tough call. But it will help.

Optimistically, I'd say 3 months from a bottom. More realistically, 6 months and possibly closer to 9 months.
 
Old 04-12-2009, 12:35 PM
 
762 posts, read 1,562,309 times
Reputation: 530
I just think riskiest doesn't tell you anything. That article means nothing to me. So what if there are forclosures and the market goes down. Why does that make it risky for me?
I am missing something here. Or like always thinking out of the box again.
 
Old 04-12-2009, 01:00 PM
 
Location: state of enlightenment
2,403 posts, read 5,241,188 times
Reputation: 2500
Quote:
Originally Posted by airics View Post
sick and tired of non locals posting news that we already know.... and if its so bad, why do you consider even coming here.. stay in your glorified new york!
So stop reading. Since when is this for locals only? I'm tired of local whiners who are underwater blaming others for their situation. I'll go wherever I want to go without any advice or approval from you.
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