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Started By
Message
An investment firm bought 264 Las Vegas area homes in one day
Posted on 1/5/24 at 3:34 pm
Posted on 1/5/24 at 3:34 pm
13
Posted on 1/5/24 at 3:37 pm to yaboidarrell
I didn’t sell my home to them, so I’ll continue to own something.
Posted on 1/5/24 at 3:40 pm to yaboidarrell
quote:
You'll own nothing and be happy.
So glad corporations stopped putting their employees on pension plans in the 90s so we all have to work until we die and our parents get those nice pension plans that are paid for by investment firms selling out their children like this
This post was edited on 1/5/24 at 3:42 pm
Posted on 1/5/24 at 3:41 pm to yaboidarrell
This is interesting in that LV was the epicenter of the housing crash last go around.
They were hit first, hardest and had the most foreclosures.
I need someone who knows more to tell me if this is a sign of impending doom or if this means they don't think a crash is coming. Why would they be buying now if things are about to fall through the floor?
I am thinking this means they don't think a crash is coming but that home sales are going to be slow because of high interest rates. Meaning they can lease the homes to those who can't buy.
They were hit first, hardest and had the most foreclosures.
I need someone who knows more to tell me if this is a sign of impending doom or if this means they don't think a crash is coming. Why would they be buying now if things are about to fall through the floor?
I am thinking this means they don't think a crash is coming but that home sales are going to be slow because of high interest rates. Meaning they can lease the homes to those who can't buy.
Posted on 1/5/24 at 3:49 pm to jbgleason
quote:
LV was the epicenter of the housing crash last go around.
Interesting how their population has exploded in the recent years. Aside from gambling and entertainment, what are some other industries that are attracting more and more people?
Posted on 1/5/24 at 3:54 pm to yaboidarrell
(no message)
This post was edited on 3/17/24 at 8:41 am
Posted on 1/5/24 at 3:59 pm to yaboidarrell
Sounds like a great place to send some of Potato Head Joe's special guess at the border. Start squatting and let's see how long it takes authorities to remove them.
Posted on 1/5/24 at 4:02 pm to jbgleason
quote:
This is interesting in that LV was the epicenter of the housing crash last go around.
Miami...
Posted on 1/5/24 at 4:07 pm to BaddestAndvari
quote:
So glad corporations stopped putting their employees on pension plans in the 90s
Everyone was bitching about higher wages and salaries, well they figured out a way to make it happen.
Posted on 1/5/24 at 4:07 pm to yaboidarrell
quote:
You'll own nothing and be happy.
Posted on 1/5/24 at 4:12 pm to Penrod
quote:
I’ll continue to own something.
Only till you stop paying annually to keep it.
Posted on 1/5/24 at 4:13 pm to Woolfpack
quote:
Guessing they got wind the new bill introduced hasn’t got a chance.
NY Times
Thanks for the paywall.
Posted on 1/5/24 at 4:20 pm to Hangit
This isn’t the WEF.
They are just treating residential real estate like corporate stocks.
No way this ends up imploding spectacularly.
They are just treating residential real estate like corporate stocks.
No way this ends up imploding spectacularly.
Posted on 1/5/24 at 4:21 pm to thefodgather
quote:
Everyone was bitching about higher wages and salaries, well they figured out a way to make it happen.
Lol, no they did not figure out a way to raise wages and salaries. Look up inflation vs salaries since 90s.
Seniors talk about how much harder it was in my day, but that's straight BS. It's much harder today to make a living and buy a house. Much harder. They had it easier.
This post was edited on 1/5/24 at 4:22 pm
Posted on 1/5/24 at 4:30 pm to jbgleason
quote:
I am thinking this means they don't think a crash is coming but that home sales are going to be slow because of high interest rates. Meaning they can lease the homes to those who can't buy.
This. Because Vegas has no real industry and people that work in Casinos/ hospitality are generally not wise financially. Vegas is also a decent 2nd home market due to nice winter weather so the market just fluctuates a lot.
The real question to ask is why was there 264 homes for sale at a rate that a large corp would want to buy?
Posted on 1/5/24 at 4:31 pm to yaboidarrell
Stop paying for Netflix and coffee
Posted on 1/5/24 at 4:36 pm to Saunson69
quote:
Seniors talk about how much harder it was in my day, but that's straight BS. It's much harder today to make a living and buy a house. Much harder. They had it easier.
Also their wages kept up way better with inflation (even compared to pre Covid).. the minimum wage, while lower, went much much further.. and that trickled UP to high earners.. im Gen X, my Boomer dad worked a minimum wage job at a convenience store in the 1970s- but that was more than enough for him to afford a brand new nice “hot rod”- a Gran Torino i think it was, or something along those lines.. and his own bachelor pad without roommates .. try that on minimum wage over the last 15 -20 years .
Posted on 1/5/24 at 4:48 pm to jbgleason
quote:
Why would they be buying now if things are about to fall through the floor?
Because they plan to hold them forever and take rent. Prices might fall, but they’ll be able to recover any theoretical opportunity cost.
They will control the market and fix the rent prices. And you won’t have any option but to take it if you can’t work remote or you would rather not commute.
This post was edited on 1/5/24 at 4:50 pm
Posted on 1/5/24 at 4:56 pm to RummelTiger
quote:
Miami...
Miami won’t go bust like LV will. Miami won’t stop
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