We’re in Vegas and it’s definetly apparent in the real estate market here. However, rent rates are going up and discretionary consumption is up as well. Foreclosure inventories are still rising because there were soooo many bad loans made here, but investors that stuck around are able to rent properties out pretty easily.
You may find this interesting: You can buy a SFR (3b/2b) within 5 miles of the tourist corridor (The Strip) for just about $300K and rent it out for $1100-$1300 per month. You can buy the same size SFR 8 miles from The Strip for $170k – $220K, and it too will rent for between $1100-$1300 per month. Freaky, huh?
