Tilted Forum Project Discussion Community - View Single Post - 1992 Redux: Will "it's the economy, stupid", Be The Big Campaign Issue?

Cynthetiq · 03-04-2007, 08:08 AM

I happen to own property in Vegas, as do my parents. We invested there in the late 90s as costs for property where "cheap" compared to other parts of the nation. My $60k condo is now $180k outpacing my NYC coop by leaps and bounds.

As a landlord I rent out the condo at a reasonable profit below what market rate is since IMO the market rate is quite absurd. I had never raised rent and make a modest $100 profit each month, I had to reduce my rent last year by $75 to attract a new renter. Even if I rent it at a break even point I know that in the end I still come out ahead something that other investors are not as interested in.

That is my history of LV, so even if I live in NYC, I pay close attention to the LV housing market. A few of the high rises that were touted looking for investors did not ever break ground one comes to mind is the Ivana Trump building.

The housing market in LV has definitely cooled but it had to, a place cannot lay claim to biggest growth every year. This doesn't apply to just the housing market but any industry, sector, stock, or company.

As for the substandard construction, that has happened in Las Vegas as well, many HomeOwners Associations suing builders for later phases that were not up to par with original first phase buildings.

03-04-2007, 08:08 AM	#8 (permalink)
Cynthetiq Tilted Cat Head Administrator Location: Manhattan, NY	I happen to own property in Vegas, as do my parents. We invested there in the late 90s as costs for property where "cheap" compared to other parts of the nation. My $60k condo is now $180k outpacing my NYC coop by leaps and bounds. As a landlord I rent out the condo at a reasonable profit below what market rate is since IMO the market rate is quite absurd. I had never raised rent and make a modest $100 profit each month, I had to reduce my rent last year by $75 to attract a new renter. Even if I rent it at a break even point I know that in the end I still come out ahead something that other investors are not as interested in. That is my history of LV, so even if I live in NYC, I pay close attention to the LV housing market. A few of the high rises that were touted looking for investors did not ever break ground one comes to mind is the Ivana Trump building. The housing market in LV has definitely cooled but it had to, a place cannot lay claim to biggest growth every year. This doesn't apply to just the housing market but any industry, sector, stock, or company. As for the substandard construction, that has happened in Las Vegas as well, many HomeOwners Associations suing builders for later phases that were not up to par with original first phase buildings. __________________ I don't care if you are black, white, purple, green, Chinese, Japanese, Korean, hippie, cop, bum, admin, user, English, Irish, French, Catholic, Protestant, Jewish, Buddhist, Muslim, indian, cowboy, tall, short, fat, skinny, emo, punk, mod, rocker, straight, gay, lesbian, jock, nerd, geek, Democrat, Republican, Libertarian, Independent, driver, pedestrian, or bicyclist, either you're an asshole or you're not. What's the best nation in the world? DO-NATION!