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spdrun.
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May 24, 2016 at 12:45 PM #21984May 24, 2016 at 2:12 PM #797987
spdrun
ParticipantAt least someone has said it — foreclosures are a GOOD thing since they control price appreciation (read: inflation). One man’s home going into foreclosure is another man’s opportunity to buy it, kick whatever squatters are living there out, and rent it to humans that aren’t complete trailer-trash.
May 24, 2016 at 2:42 PM #797991FlyerInHi
GuestI don’t know… Vegas was ground zero for the housing crisis. It is said that there are still 30,000 houses in limbo.. but there are still building away and prices are increasing. prices have easily doubled since the bottom.
Resale prices are flat, but new homes sales are up, and tickytack houses are being built everywhere. if I remember, 7000 new construction were sold last year. Normal should be about 15,000 and peak was 35,000, iirc.
May 24, 2016 at 3:04 PM #797993bearishgurl
Participant[quote=FlyerInHi]I don’t know… Vegas was ground zero for the housing crisis. It is said that there are still 30,000 houses in limbo.. but there are still building away and prices are increasing. prices have easily doubled since the bottom.
Resale prices are flat, but new homes sales are up, and tickytack houses are being built everywhere. if I remember, 7000 new construction were sold last year. Normal should be about 15,000 and peak was 35,000, iirc.[/quote]So, in the light of the fact that new “ticky-tack” homes currently on the market are suppressing buyer interest in resales (the kind of homes YOU buy there), are you still in favor of rampant gross over-building, FIH?
After all, if this continues further and further out into the moon-cratered landscape which is Clark County, NV, the urban properties which you already purchased for a song and spent your own hard-earned money and labor rehabbing may not end up to be worth more (or much more) than you paid for them :=0
Aren’t there any growth controls at all in Clark County or LV and suburbs?
May 24, 2016 at 4:27 PM #798009Guest[quote=bearishgurl]So, in the light of the fact that new “ticky-tack” homes currently on the market are suppressing buyer interest in resales (the kind of homes YOU buy there), are you still in favor of rampant gross over-building, FIH?
After all, if this continues further and further out into the moon-cratered landscape which is Clark County, NV, the urban properties which you already purchased for a song and spent your own hard-earned money and labor rehabbing may not end up to be worth more (or much more) than you paid for them :=0
Aren’t there any growth controls at all in Clark County or LV and suburbs?[/quote]
There is unlimited land in the Vegas metro area. BLM auctions off land as the market calls for.
http://www.reviewjournal.com/business/economic-development/most-southern-nevada-land-sold-single-blm-auction-boomAnd, yes, I’m in favor of building, adding houses and growing the economy. More people means more business opportunities.
And thanks to millennials, and empty nesters, good housing that is located close the urban core (or desirable locations close to shopping) is always valuable and in demand.
I don’t want to restrict construction to drive the house prices (only good for owners). I want a dynamic, growing economy with business opportunities of all kinds for everyone.
May 24, 2016 at 4:30 PM #798010ParticipantI’d rather restrict births by making policies unfavorable to having > 2 rugrats. Say NO tax breaks if you pop a third sprog unless you adopt or foster.
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