Las Vegas Housing Market: 20 years to recovery?

Discussion in 'Blazers OT Forum' started by EL PRESIDENTE, Mar 22, 2010.

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  1. EL PRESIDENTE

    EL PRESIDENTE Username Retired in Honor of Lanny.

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    http://finance.yahoo.com/real-estate/article/109131/americas-most-underwater-housing-markets

    pretty insane. but yeah, houses there are cheap and will be for a while.
     
    EL PRESIDENTE, Mar 22, 2010
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  2. Fez Hammersticks

    Fez Hammersticks スーパーバッド Zero Cool

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    Miami will take years to recover as well.

    They saturated the condo market with their decision to build as many high rises as possible.
     
    Fez Hammersticks, Mar 22, 2010
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  3. Fez Hammersticks

    Fez Hammersticks スーパーバッド Zero Cool

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    $1M+ homes in Scottdale, AZ in 2007 are selling for half of that as well.
     
    Fez Hammersticks, Mar 22, 2010
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  4. THE HCP

    THE HCP NorthEastPortland'sFinest

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    My boy was down in Vegas from '00-'03 and MADE A KILLING!!!!!
     
    THE HCP, Mar 22, 2010
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  5. blazerboy30

    blazerboy30 Well-Known Member

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    Eh. To recover 56% over 20 years requires 2.3% appreciation. Depending on what inflation does, that 2.3% isn't THAT bad. Still could be worth leveraging.
     
    blazerboy30, Mar 22, 2010
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  6. tlongII

    tlongII Legendary Poster

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    Might be a good time to buy a 2nd home in Vegas.
     
    tlongII, Mar 22, 2010
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  7. EL PRESIDENTE

    EL PRESIDENTE Username Retired in Honor of Lanny.

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    in cash. I'm looking to buy a first house there, since no way in fuck I can get anything good in SoCal.

    $500k can get a mcmansion again! you can get a 90k row house built in the last 5 years too!
     
    EL PRESIDENTE, Mar 22, 2010
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  8. Fez Hammersticks

    Fez Hammersticks スーパーバッド Zero Cool

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    Vegas is cool to visit but no way would I want to live there.

    This is the time to get a house if you have the money.

    [​IMG]

    North Scottsdale, FTW!
     
    Fez Hammersticks, Mar 22, 2010
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  9. EL PRESIDENTE

    EL PRESIDENTE Username Retired in Honor of Lanny.

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    I still think we have about 3-5 years before prices start going up in heavily foreclosed communities.
     
    EL PRESIDENTE, Mar 22, 2010
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  10. EL PRESIDENTE

    EL PRESIDENTE Username Retired in Honor of Lanny.

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    I like Vegas because of the proximity to LA. I could drive back and forth pretty easily. I think Vegas is kind of hellish though.
     
    EL PRESIDENTE, Mar 22, 2010
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  11. EL PRESIDENTE

    EL PRESIDENTE Username Retired in Honor of Lanny.

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    that house has got to be over a million right? I'm thinking over 2.

    how is arizona? My friend went there and said it was strip-mall hell in Phoenix. I flow through there and everyone there seemed pretty friendly/upbeat. kind of reminded me of San Diego.
     
    EL PRESIDENTE, Mar 22, 2010
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  12. Fez Hammersticks

    Fez Hammersticks スーパーバッド Zero Cool

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    I just like the neighborhoods in North Scottsdale and Paradise Valley. The fall/winter climate is really nice. Summer is hell on earth.

    Phoenix sucks. It's a city with a metro population of 5mil. but doesn't really have a downtown. It's like L.A., a bunch of suburbs spread out in search of a downtown.
     
    Fez Hammersticks, Mar 22, 2010
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  13. Fez Hammersticks

    Fez Hammersticks スーパーバッド Zero Cool

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    Right now, this house is an even $1,000,000.

    Three or more years ago this house is easily worth a lot more.
     
    Fez Hammersticks, Mar 22, 2010
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  14. EL PRESIDENTE

    EL PRESIDENTE Username Retired in Honor of Lanny.

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    yeah, i was wondering "where the fuck is the downtown"?
     
    EL PRESIDENTE, Mar 22, 2010
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  15. mook

    mook The 2018-19 season was the best I've seen

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    Phoenix and Las Vegas have the same things going for them: pleasant winters. Other than that, I really don't get why anyone would want to live in either place. Sure, land is cheap, but then most things that really suck tend to be cheap. The land is a wasteland of cactus, rattlesnakes and oppressive summer heat.
     
    mook, Mar 22, 2010
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  16. mook

    mook The 2018-19 season was the best I've seen

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    Sure, it's a great house. And the owner gets a fine view of....a big pile of dirt in the background with a few cactus sprinkled about. Yay.
     
    mook, Mar 22, 2010
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  17. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    I lived in Vegas for 5 years. It's cold in the winters, and we had snow on the ground every winter.

    The heat never bothered me, and there's two seasons there when the weather is downright awesome - spring and fall. I found that 110 degrees was a lot more comfortable than 90 or 95 in a humid climate like Chicago or Florida. To each his own, though.

    I found Vegas was a lot like California (Bay Area). The place is mostly urban sprawl, lots of suburban type areas and strip malls. The big difference is that the freeways aren't always jammed.

    I wouldn't knock the nature of the desert. It has real charm in its own right, and I find it has great beauty. The drive from Vegas to LA is a spectacular scenic one, that changes from desert to ... another kind of desert.
     
    Denny Crane, Mar 23, 2010
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  18. mook

    mook The 2018-19 season was the best I've seen

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    I have to admit I've only been to Vegas twice in the winter. It was quite pleasant then (especially compared to Idaho at the time).

    I live near a desert, although it's not the cactus variety. Growing up I spent a lot of time in open desert country antelope, sage hen and deer hunting, and in the desert mountains chukar hunting. It's kind of pretty, I'll admit, for about an hour. After that I just want to get in some trees.
     
    mook, Mar 23, 2010
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  19. BLAZER PROPHET

    BLAZER PROPHET Well-Known Member

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    Or ocean beaches.
     
    BLAZER PROPHET, Mar 23, 2010
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  20. maxiep

    maxiep RIP Dr. Jack

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    I'll take green ground and grey sky over brown ground and blue sky every day of the year. I guess I really am a child of the Willamette Valley.
     
    maxiep, Mar 23, 2010
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