Posts Tagged ‘Vegas’

The folks who’s business it is to track trends say they have no idea.  Here’s my two cents: if you’re buying for the long term, rates are incredibly favorable.  However, make sure the market you’re in is the right one.  E.g., Colorado Springs not Las Vegas.  The former has a high occupancy rate and homes are selling in under 24 hours.  The numbers have been stable, too.  The latter has a massive overhang of houses and a lot of underwater homeowners which can only translate to downward trends in prices.

I’ve been sounding the alarm about the Vegas market for awhile now, using Detroit as an example of what can happen to a single industry town.  Vegas is, IMHO, particularily susceptible because the Reid-Goodman-Goodman triad is doing nothing to help the city, much less the state.  The market is almost assuredly going to continue to decline, despite Mr. Nason’s assurance of it being nearly a “sure bet” market.