Geezy Posted November 27, 2019 Share Posted November 27, 2019 Just now, Humble_Beast said: Would be nice if Raiders made flights from the bay and Fresno to Vegas cheaper... probably asking for too much, but flights from Fresno to Vegas are already cheap If anything, flights are gonna go up. Quote Link to comment Share on other sites More sharing options...
RaidersAreOne Posted December 3, 2019 Share Posted December 3, 2019 Quote Link to comment Share on other sites More sharing options...
G Posted December 4, 2019 Share Posted December 4, 2019 Henderson moving on up. I like Summerlin myself but parts of Henderson seem really good. Drove by the stadium on the way out last week and it was looking good. Still debating an investment property but wanting to see a recession take prices down and then get it cheaper. Vegas real estate been on fire the past 3 years and finally saw prices falling the past year on some areas but Henderson became the hotspot once Summerlin/Lakes got overheated. Quote Link to comment Share on other sites More sharing options...
drfrey13 Posted December 4, 2019 Share Posted December 4, 2019 16 hours ago, G said: Henderson moving on up. I like Summerlin myself but parts of Henderson seem really good. Drove by the stadium on the way out last week and it was looking good. Still debating an investment property but wanting to see a recession take prices down and then get it cheaper. Vegas real estate been on fire the past 3 years and finally saw prices falling the past year on some areas but Henderson became the hotspot once Summerlin/Lakes got overheated. Vegas real estate is going to get destroyed if the next recession is big. I remember the last one you could find properties for around $100-150K everywhere. Quote Link to comment Share on other sites More sharing options...
big_palooka Posted December 4, 2019 Share Posted December 4, 2019 11 minutes ago, drfrey13 said: Vegas real estate is going to get destroyed if the next recession is big. I remember the last one you could find properties for around $100-150K everywhere. The last recession was directly tied to the housing market and housing crisis. Bad mortgage loans played a huge part in this. Watch The Big Short if you haven't. There were some other factors that played in here as well that would take forever to get into. Point is, it was a one off for housing. Historically, in a recession, housing will rise or stay stable as expected for this pending recession. Why? Because with a recession, interest rates will drop. This brings in new pools of buyers and more affordability for move up buyers, etc. I work in mortgage and real estate. There will be some cooling off, but there won't be a big drop in housing prices this time around the way we saw 2007/2008. 2 Quote Link to comment Share on other sites More sharing options...
RaidersAreOne Posted December 4, 2019 Share Posted December 4, 2019 1 hour ago, big_palooka said: The last recession was directly tied to the housing market and housing crisis. Bad mortgage loans played a huge part in this. Watch The Big Short if you haven't. There were some other factors that played in here as well that would take forever to get into. Point is, it was a one off for housing. Historically, in a recession, housing will rise or stay stable as expected for this pending recession. Why? Because with a recession, interest rates will drop. This brings in new pools of buyers and more affordability for move up buyers, etc. I work in mortgage and real estate. There will be some cooling off, but there won't be a big drop in housing prices this time around the way we saw 2007/2008. Ps I never figured you for a real estate guy BP. 1 Quote Link to comment Share on other sites More sharing options...
SilverLining Posted December 5, 2019 Share Posted December 5, 2019 I can't wait for the stadium to be finished, I might have to make my first plans ever for a trip to vegas. Quote Link to comment Share on other sites More sharing options...
G Posted December 5, 2019 Share Posted December 5, 2019 (edited) 8 hours ago, drfrey13 said: Vegas real estate is going to get destroyed if the next recession is big. I remember the last one you could find properties for around $100-150K everywhere. I had been watching some specific condos 3bed/2ba in the Lakes area that sold for 300K in 2006 got as low as 50K 2009-10 and now are 165K (2200 S.Fort Apache 89117) BP I have to disagree as rates are already low and FED is lowering but we could go minus like parts across the pond. Edited December 5, 2019 by G 1 Quote Link to comment Share on other sites More sharing options...
drfrey13 Posted December 5, 2019 Share Posted December 5, 2019 3 hours ago, big_palooka said: The last recession was directly tied to the housing market and housing crisis. Bad mortgage loans played a huge part in this. Watch The Big Short if you haven't. There were some other factors that played in here as well that would take forever to get into. Point is, it was a one off for housing. Historically, in a recession, housing will rise or stay stable as expected for this pending recession. Why? Because with a recession, interest rates will drop. This brings in new pools of buyers and more affordability for move up buyers, etc. I work in mortgage and real estate. There will be some cooling off, but there won't be a big drop in housing prices this time around the way we saw 2007/2008. I understand what you are saying but Vegas Real Estate is over priced just like So Cal. Issue with a recession in Vegas is disposable income for entertainment. Their economy is based around tourist bringing in money. Without that their economy takes a huge hit. When the economy dumps they are one of the hardest hit in the nation. Currently there are a lot of bubbles forming in the economy and housing could get hit again because all the regulation in that market has done very little to stop another bubble from forming within the market. Of course it will not be triggered from the same thing Adjusting for inflation housing prices are right where they were in the last bubble and the amount of owner occupied is at an all time low. If investors try to get out of the market, particularly foreign investors which I believe are the biggest risk, you will have a run on housing similar to the run on the banks (Not nearly as large or the impact). Remember investors run like roaches when the lights are turned on. After this cycle expect big regulations on investment housing that completely changes the game for realtors if this plays out. I could be overstating the effects or completely wrong because of circumstances such as lowering interest rates. The problem with interest rates is that the fed has very little wiggle room to use monetary policy to reverse negative impacts in the market. We could go negative like other countries but that is a whole new issue. Housing is the biggest multiplier in our economy but at a certain point saving the housing market does not outweigh the costs to other sectors of the economy. With historically low interest rates in the housing market already your impact there starts to diminish also because banks will only lend to a certain level. The next few years will be interesting. Best bet is to not panic as long as you are gambling with assets you only need long term. 1 Quote Link to comment Share on other sites More sharing options...
drfrey13 Posted December 5, 2019 Share Posted December 5, 2019 For a second I forgot what this thread was about. If we all meet up in Vegas for the draft or a game we better keep the talk to football or we might miss the game. Reading your post @G I thought you were my sister for a second. She told me a few similar stories. Time to get back to talking trash to each other about opinions of Carr. Quote Link to comment Share on other sites More sharing options...
G Posted December 5, 2019 Share Posted December 5, 2019 1 minute ago, drfrey13 said: For a second I forgot what this thread was about. If we all meet up in Vegas for the draft or a game we better keep the talk to football or we might miss the game. Reading your post @G I thought you were my sister for a second. She told me a few similar stories. Time to get back to talking trash to each other about opinions of Carr. LOL I edited the post just a bit ago because...Sometimes it's better to get along than to stir things up. LOL If Gruden cuts Carr I'll buy his house. =) Then trash talk at Gruden across the fence and find cardboard cutouts of Carr, Mack and Cooper to put in the backyard high enough for Chucky to see. LOL 100% agree with similar views on housing in general and especially Vegas. 1 Quote Link to comment Share on other sites More sharing options...
drfrey13 Posted December 5, 2019 Share Posted December 5, 2019 Just now, G said: LOL I edited the post just a bit ago because...Sometimes it's better to get along than to stir things up. LOL If Gruden cuts Carr I'll buy his house. =) Then trash talk at Gruden across the fence and find cardboard cutouts of Carr, Mack and Cooper to put in the backyard high enough for Chucky to see. LOL 100% agree with similar views on housing in general and especially Vegas. If you are buying Carr's old house maybe I should be hitting you up for a job. 1 Quote Link to comment Share on other sites More sharing options...
big_palooka Posted December 5, 2019 Share Posted December 5, 2019 6 hours ago, G said: I had been watching some specific condos 3bed/2ba in the Lakes area that sold for 300K in 2006 got as low as 50K 2009-10 and now are 165K (2200 S.Fort Apache 89117) BP I have to disagree as rates are already low and FED is lowering but we could go minus like parts across the pond. The FED lowering rates has nothing to do with long term fixed mortgage rates. FED rate cuts only effect short team rates. Quote Link to comment Share on other sites More sharing options...
big_palooka Posted December 5, 2019 Share Posted December 5, 2019 5 hours ago, drfrey13 said: I understand what you are saying but Vegas Real Estate is over priced just like So Cal. Issue with a recession in Vegas is disposable income for entertainment. Their economy is based around tourist bringing in money. Without that their economy takes a huge hit. When the economy dumps they are one of the hardest hit in the nation. Every market is different, yes. But you'll not see the bottom completely fall out as it did a decade ago in places like Vegas and parts of Florida. When I get board, I'll look at the data on Vegas as I'm interested. Currently I'm licensed in WA, CA, UT, CO, MT, TX, VA, GA, FL so those are the markets I know well. 5 hours ago, drfrey13 said: Currently there are a lot of bubbles forming in the economy and housing could get hit again because all the regulation in that market has done very little to stop another bubble from forming within the market. Regulation in the mortgage industry has stabilized the housing market. The stated or no Income and asset loans are a thing of the past. The standards for qualifying have been higher. Income, asset and down payment verification have made it harder to get approved than ever. Some major markets could be in a mini-bubble, but it will be nothing like 2008. That was the 2nd biggest recession to the great depression was caused by housing and speculation. Quote Link to comment Share on other sites More sharing options...
S&B Bleeder Posted December 5, 2019 Share Posted December 5, 2019 I find this discussion very interesting but where are we going with this topic? Quote Link to comment Share on other sites More sharing options...
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