Las Vegas median home prices up 11%!

bodyforlife · Nov 17, 2020

Arm chair qbs wrong again.

https://www.reviewjournal.com/busin...ak-makes-no-sense-are-we-in-a-bubble-2184069/

Doesn't look like there's going to be any bargain basement hunting like some clowns predicted. Most other areas of the country are up also. 8 months into the pandemic. When is Armageddon happening again?

fightgood · Nov 17, 2020

Tons of people are selling their homes in California and buying much less expensive ones in Vegas and pocketing the profits

The lockdowns have given them the free time to reevaluate things and make the move

bodyforlife · Nov 17, 2020

fightgood said:
Tons of people are selling their homes in California and buying much less expensive ones in Vegas and pocketing the profits

The lockdowns have given them the free time to reevaluate things and make the move

Yep, that point was mentioned to the forum A-hole that roots for pain and suffering of others so he can get a bargain. The historically low interest rates are another factor.

slapshot · Nov 17, 2020

China is still buying

Dr.Love · Nov 17, 2020

I have a feeling this thread will not age well. Unfortunately.

Hope I'm wrong..

Dr.Love · Nov 17, 2020

I think the current state of the housing market in places like Vegas, Phx, etc is due to musical chairs. People are taking advantage of the opportunity to relocate now while the rates are low and they have a chance. And I also think the stock market is artificial inflated more than ever right now. When the dust settles, I think our country is in for some long pain. You can't just shut down key sectors of the middle class economy off and on for months and it not eventually catch up and burn your economy.

Again, hope I'm wrong..

fightgood · Nov 17, 2020

Dr. Love said:
I think the current state of the housing market in places like Vegas, Phx, etc is due to musical chairs. People are taking advantage of the opportunity to relocate now while the rates are low and they have a chance. And I also think the stock market is artificial inflated more than ever right now. When the dust settles, I think our country is in for some long pain. You can't just shut down key sectors of the middle class economy off and on for months and it not eventually catch up and burn your economy.

Again, hope I'm wrong..

Yea, usually the housing market is a key indicator of how the economy is doing overall. But this time it doesn't take into account all the people behind on their rent and bills. Not to mention all the small businesses that went out of business

Dr.Love · Nov 17, 2020

fightgood said:
Yea, usually the housing market is a key indicator of how the economy is doing overall. But this time it doesn't take into account all the people behind on their rent and bills. Not to mention all the small businesses that went out of business

Mass foreclosures usually don't help housing prices. Many people are getting by right now due to the government hand outs and band-aids. That won't last forever.

The Piper will need to be paid at some point..

REDEYE · Nov 17, 2020

Its actually to early to know what will happen with LV.. Its kinda like conceding a bet thats not over yet.. I'm skeptical for one main reason. Massive layoffs and we still seem to be in a lockdown phase which will cripple economies.

bigwang · Nov 17, 2020

slapshot said:
China is still buying

This. My dad just picked up 6 homes around Vegas and 2 in Utah for good prices past few months. His broker said very busy with foreign sales like his.

valium · Nov 17, 2020

big wang said:
This. My dad just picked up 6 homes around Vegas and 2 in Utah for good prices past few months. His broker said very busy with foreign sales like his.

What does your Dad do with the homes? Flip them? Rent them out? Just curious as to how he is making money with them.

bodyforlife · Nov 17, 2020

Dr. Love said:
Mass foreclosures usually don't help housing prices. Many people are getting by right now due to the government hand outs and band-aids. That won't last forever.

The Piper will need to be paid at some point..

What handouts might those be? Basic unemployment at roughly 40% of salary is not going to pay a mortgage payment (hasn't been any additional since August). According to posters here, Vegas has been pummeled for quite some time now. What foreclosures are you talking about?

RED EYE said:
Its actually to early to know what will happen with LV.. Its kinda like conceding a bet thats not over yet.. I'm skeptical for one main reason. Massive layoffs and we still seem to be in a lockdown phase which will cripple economies.

More like people in denial and hoping and praying they will get prices like 2010 again despite historical low interest rates, neighboring states that are willing to buy up real estate knowing they can work remotely now, and a market that is nothing like 2008 with tighter lending standards instead of liar loans. But best to keep repeating the same nonsense and putting fingers in the ears (like a bet that is over for the realists out there).

REDEYE · Nov 17, 2020

bodyforlife said:
What handouts might those be? Basic unemployment at roughly 40% of salary is not going to pay a mortgage payment (hasn't been any additional since August). According to posters here, Vegas has been pummeled for quite some time now. What foreclosures are you talking about?

More like people in denial and hoping and praying they will get prices like 2010 again despite historical low interest rates, neighboring states that are willing to buy up real estate knowing they can work remotely now, and a market that is nothing like 2008 with tighter lending standards instead of liar loans. But best to keep repeating the same nonsense and putting fingers in the ears (like a bet that is over for the realists out there).

Not sure who is hoping and praying , maybe some possibly .. Maybe some just monitoring and waiting . .LV is impossible to guage at the moment.. Doubt you're the expert we're all waiting to hear from.

Maybe you can provide some insight when things can get back to normal in LV , then can take what you post here more seriously..

BTW , bets aren't over until they're actually over.. Only reason to concede is a possible buyout , or you actually have to payout , and or the event is actually over.. Unless that particular rookie can provide another reason to concede early , its foolish to engage that topic any further..

bodyforlife · Nov 17, 2020

RED EYE said:
Not sure who is hoping and praying , maybe some possibly .. Maybe some just monitoring and waiting . .LV is impossible to guage at the moment.. Doubt you're the expert we're all waiting to hear from.

Maybe you can provide some insight when things can get back to normal in LV , then can take what you post here more seriously..

BTW , bets aren't over until they're actually over.. Only reason to concede is a possible buyout , or you actually have to payout , and or the event is actually over.. Unless that particular rookie can provide another reason to concede early , its foolish to engage that topic any further..

I see, now Vegas is impossible to gauge LOL. Seems to me that you were agreeing with the resident nut job that was claiming he was going to get 2010 like prices for a nice property in Vegas (doubt you're the expert anyone is waiting for either).

As for wagers (if you would call it that since I lost nothing), yeah I don't sit and hope for a hurricane when a team is down by 35 points with 2 minutes to go for the game to be called. Stay in denial my friend. Or better yet, I'd be happy to place a wager with you right now if you truly think things aren't over.

REDEYE · Nov 17, 2020

bodyforlife said:
I see, now Vegas is impossible to gauge LOL. Seems to me that you were agreeing with the resident nut job that was claiming he was going to get 2010 like prices for a nice property in Vegas (doubt you're the expert anyone is waiting for either).

As for wagers (if you would call it that since I lost nothing), yeah I don't sit and hope for a hurricane when a team is down by 35 points with 2 minutes to go for the game to be called. Stay in denial my friend.

It is impossible to guage right now.. And you're right , I'm far from an expert on the subject. My views don't matter other than having a open mind what will happen in LV. .I'm not waiting around for a collapse myself , pretty much hope things do rebound quickly. Just have some reasonable doubts about that happening. Who wouldn't under these circumstances ?

Unless I read it wrong , you conceded your Trump bet to Crudebar ... That's a loss , that's not nothing.. What did you gain from conceding early ?

bigwang · Nov 17, 2020

valium said:
What does your Dad do with the homes? Flip them? Rent them out? Just curious as to how he is making money with them.

Some flip depending on area but usually rentals. I know I will be starting work on a few of them next month.

Seymour · Nov 17, 2020

Prices have risen dramatically in Miami and Fort Lauderdale - combination of people leaving the NY area and people leaving CA (which is a relatively new phenomenon) coupled with low interest rates and no state tax - CA is beautiful and a wonderful place to live as long is you do not make much money

bodyforlife · Nov 17, 2020

RED EYE said:
It is impossible to guage right now.. And you're right , I'm far from an expert on the subject. My views don't matter other than having a open mind what will happen in LV. .I'm not waiting around for a collapse myself , pretty much hope things do rebound quickly. Just have some reasonable doubts about that happening. Who wouldn't under these circumstances ?

Unless I read it wrong , you conceded your Trump bet to Crudebar ... That's a loss , that's not nothing.. What did you gain from conceding early ?

Yeah, my bet was a hedge so no impact to me whatsoever (unlike yours). I figured I'd be a classy guy instead of an idiot and not pull the "sour grapes" thing.

Well then based on that, one would assume you think there is still some chance that the election results will be reversed. I would be happy to make a wager that you are wrong. I figure 10% is better than I can get on an investment right now. Let me know. I'll be happy to give 10/1 if you seriously think this. "Da-nile" (denial)....it's more than a river in Egypt...LOL.

REDEYE · Nov 17, 2020

bodyforlife said:
Yeah, my bet was a hedge so no impact to me whatsoever (unlike yours). I figured I'd be a classy guy instead of an idiot and not pull the "sour grapes" thing.

Well then based on that, one would assume you think there is still some chance that the election results will be reversed. I would be happy to make a wager that you are wrong. I figure 10% is better than I can get on an investment right now. Let me know. I'll be happy to give 10/1 if you seriously think this. "Da-nile" (denial)....it's more than a river in Egypt...LOL.

Its the same math...lol. You conceded your hedge.. Like I said earlier , you shouldn't engage further in this topic.. Classy guy...lol. .. Never heard that definition for a conceded bet before.

As far as your offer is concerned , appreciate it , but Crudebar has me down for some 20/1 markers...I'm good

bodyforlife · Nov 17, 2020

RED EYE said:
Its the same math...lol. You conceded your hedge.. Like I said earlier , you shouldn't engage further in this topic.. Classy guy...lol. .. Never heard that definition for a conceded bet before.

As far as your offer is concerned , appreciate it , but Crudebar has me down for some 20/1 markers...I'm good

I'm sure you are good, Lol.

You are also too dumb to realize that if somehow this election was reversed, most of us would have a lot more to worry about than some silly bet. But I digress. You can't fix stupid.

Las Vegas median home prices up 11%!

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