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Old 05-13-2011, 10:24 AM
 
Location: North America
5,960 posts, read 5,546,690 times
Reputation: 1951

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Las Vegas looks a lot like the new Detroit Howard Gold's No-Nonsense Investing - MarketWatch

Quote:
Home prices here have fallen 58.1% from their 2006 highs, the most in the Standard & Poor’s/Case-Shiller 20-City Composite Home Price index. They’ve even lost 12.6% from the nationwide recession low in April 2009 — again the worst performance of the cities in the index.
Stick a fork in Vega$....they're done.
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Old 05-13-2011, 01:10 PM
 
Location: OCEAN BREEZES AND VIEWS SAN CLEMENTE
19,893 posts, read 18,447,268 times
Reputation: 6465
Nah i know many who live in Vegas, and it will never be completely done, as you would like to think. And it is not only Vegas, do you live in this Country, all 50 States are having problems of some sort, talk to you Presdient, his fault.
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Old 05-13-2011, 01:12 PM
 
Location: The middle of nowhere Arkansas
3,325 posts, read 3,170,849 times
Reputation: 1015
Quote:
Originally Posted by clb10 View Post
If and when the economy rebounds, so will vegas.
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Old 05-13-2011, 02:43 PM
C.C
 
2,235 posts, read 2,363,273 times
Reputation: 461
Quote:
Originally Posted by california-jewel View Post
Nah i know many who live in Vegas, and it will never be completely done, as you would like to think. And it is not only Vegas, do you live in this Country, all 50 States are having problems of some sort, talk to you Presdient, his fault.
LV will still be attractive to retirees - maybe even more so if housing prices drop to levels that reflect what they actually cost to build. And convention business will eventually recover somewhat. Unfortunately convention-goers are notoriously stingy gamblers.

I don't see gambling revenue ever returning to former levels. The Asian whales are gone for good, and low-dollar but high-profit suckers are just as happy to get fleeced by the local Indian tribe...
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Old 05-13-2011, 03:02 PM
 
Location: Hoboken
19,890 posts, read 18,755,547 times
Reputation: 3146
Quote:
Originally Posted by clb10 View Post

Not really, I suspect more than 52% of Las Vegas residents can read your post. I also think more people would prefer to go to Las Vegas than Detroit. Las Vegas will be just fine.
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Old 05-13-2011, 03:23 PM
 
Location: North America
5,960 posts, read 5,546,690 times
Reputation: 1951
Quote:
Originally Posted by california-jewel View Post
Nah i know many who live in Vegas, and it will never be completely done, as you would like to think. And it is not only Vegas, do you live in this Country, all 50 States are having problems of some sort, talk to you Presdient, his fault.
The D.C. area is doin' just fine.
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Old 05-13-2011, 03:26 PM
 
Location: North America
5,960 posts, read 5,546,690 times
Reputation: 1951
Quote:
Originally Posted by Dutchman01 View Post
If and when the economy rebounds, so will vegas.
That's what they said about Detroit after the 1981 recession.

BTW, I like Vega$...its just obvious that the city offers nothing that can't be found elsewhere.

Cheap desert real estate...Phoenix

Gambling...any Indian reservation or Atlantic City

Shows...any major city
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Old 05-13-2011, 03:53 PM
 
Location: Sinking in the Great Salt Lake
13,138 posts, read 22,818,947 times
Reputation: 14116
Vegas was always a temporary phenomenon. Any party always has an ending and flushing money down the toilet on crappy entertainment gets old fast.
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Old 05-13-2011, 04:13 PM
 
56,988 posts, read 35,206,841 times
Reputation: 18824
Quote:
Originally Posted by clb10 View Post
The two towns have absolutely NOTHING in common. Not one thing.

I doubt that you've ever been to either city. Do that first, then make silly comparisons.
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Old 05-13-2011, 04:26 PM
 
Location: North America
5,960 posts, read 5,546,690 times
Reputation: 1951
Quote:
Originally Posted by desertdetroiter View Post
The two towns have absolutely NOTHING in common. Not one thing.

I doubt that you've ever been to either city. Do that first, then make silly comparisons.
Been to Detroit 4 times.

Been to Vegas 7 times.

No, not an expert on either city, but your doubts are misplaced.

Deep unemployment and huge areas of dead real estate.

The above sentence describes both cities perfectly.
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