Vegas swallows. TYT: Is Las Vegas Collapsing?

kewljason

Well-Known Member
#3
Nothing really new in either video. Tourism has been down for 4+ years and the real estate market crashed in 2008. So the two top industries went in the crapper at the same time. That equals highest unemplyment in the nation.

But you can use some of this too your advantage as well. If you are relocating to vegas and aren't in the market for employment, meaning retired, self employed, or just financially independent, then the unemployment rate won't effect you. :) And with 1 in 4 properties in some state of foreclosure, think of the bargains you can find. I know one guy that bought a property last year at 29% of the value that it sold for in 2006 when it was built. :) Of course the bad news is it might only be worth 25% now. Maybe 20% by next year. :laugh:
 

BJLFS

Well-Known Member
#4
kewljason said:
Nothing really new in either video. Tourism has been down for 4+ years and the real estate market crashed in 2008. So the two top industries went in the crapper at the same time. That equals highest unemplyment in the nation.

But you can use some of this too your advantage as well. If you are relocating to vegas and aren't in the market for employment, meaning retired, self employed, or just financially independent, then the unemployment rate won't effect you. :) And with 1 in 4 properties in some state of foreclosure, think of the bargains you can find. I know one guy that bought a property last year at 29% of the value that it sold for in 2006 when it was built. :) Of course the bad news is it might only be worth 25% now. Maybe 20% by next year. :laugh:

I just thought the guy in the first video was interesting in that he thought it was going to happen a while back.
 
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