Quote:
Originally Posted by james_clickmemedia
Vegas is a great place to invest in property right now if you are careful and choose well.
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The Vegas market is still being artificially propped up by banks who are releasing for sale only a fraction of the doomed investments from last decade, in an attempt to keep prices from plummeting further. The foreclosures on the market now are just the tip of the iceberg. I don't see how a real recovery is possible here, but it could be manipulated to look that way for a while.
When I see this picture, it makes me think of those huge old victorian homes back east that now serve as multi-family slums. I'm afraid that future is more likely than continued prosperity in the desert. I'm only 30, so I make all my investments trying to imagine the world in 2025-2050 and my crystal ball predicts this place is going to end up looking something like Detroit does now.
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