Vegas homes to fall 25% more

usmoron, someone is always saying grim. Google consensus and you'll see 2%+

the idiot you referred to the other day is raising his child in China so she can learn mandarine.
I like the sauce on my chicken, but not worth uprooting the family.
 
Topspin said:
usmoron, someone is always saying grim. Google consensus and you'll see 2%+

the idiot you referred to the other day is raising his child in China so she can learn mandarine.
I like the sauce on my chicken, but not worth uprooting the family.
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Not these guys before...the tone among the experts is changing rapidly....pretty scary.
 
I'll be conserned with the consensus amoung economist is recession, so far it's not.
Is it getting worse, maybe. But each time GDP comes out the economy is strong.
Banks and Brokers screwed up and loss billions, the economy is trillions in total.
 
cawacko said:
we built a condo tower in Vegas completed late last year that we were fortunate to be able to sell most of the units but there was no way we were going ahead with Phase 2. A lot of speculators were purchasers of the units and I'm sure hating it now.
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And so you and yours should...investors need to stay the hell out of necessary commodities(for excessive profit) that people need to survive....such as housing,food,fuel,transportation,medical etc...just a fact of life...it will come back to bite y'all in the arse...remember the French Revolution...1700's...'Let them eat Cake'....a few heads were lost then...and a few will be lost today!


Sorry but I am a History buff...Ilike to learn from others mistakes...a lost art!
:cof1:
 
cawacko said:
we built a condo tower in Vegas completed late last year that we were fortunate to be able to sell most of the units but there was no way we were going ahead with Phase 2. A lot of speculators were purchasers of the units and I'm sure hating it now.
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a very common story in many parts of the country.

So you are in the construction biz? Does your company work internationally?

I think Panama is the next Cent Am country to see its real estate market escalate. Cost of living is cheap and there is a trend of retirees from the US and Europe heading to Cent Am to settle down. $1500 a month in income in Panama and you can live it up quite nicely.
 
Superfreak said:
a very common story in many parts of the country.

So you are in the construction biz? Does your company work internationally?

I think Panama is the next Cent Am country to see its real estate market escalate. Cost of living is cheap and there is a trend of retirees from the US and Europe heading to Cent Am to settle down. $1500 a month in income in Panama and you can live it up quite nicely.
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we are pension fund advisors so we placed the equity for the development. Our company is global and has offices in most major cities across the globe.

It's interesting you mention Panama. One of my best friends is working on a residential development on an island in Panama but he said the prices have been dropping and they haven't had much success in selling any of the homes over the past several months.
 
cawacko said:
we built a condo tower in Vegas completed late last year that we were fortunate to be able to sell most of the units but there was no way we were going ahead with Phase 2. A lot of speculators were purchasers of the units and I'm sure hating it now.
Click to expand...

Rent them.
 
Desh said:
Rent them.
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i'm not as involved now but I think some of the owners are trying to do that. My understanding is there are multiple units in the building on the market for rent and sale. From our perspective we want to sell all the units in the building and then we don't have any more involvement. So what happens from here doesn't really effect us.
 
Desh said:
Rent them.
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Agreed. Especially if they are near the canal. Given the new canal going in, the engineers and workers that are being sent there are going to be looking for places to rent. They could probably lock up some nice 3-4 year leases.
 
I can buy a house in Panama because my daughter is a dual citizen(they have a law preventing non citizens from owning property). I was getting ready to buy a really nice house for 30k but I chickened out because the military were all leaving.
 
Blackflag said:
I can buy a house in Panama because my daughter is a dual citizen(they have a law preventing non citizens from owning property). I was getting ready to buy a really nice house for 30k but I chickened out because the military were all leaving.
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Are you familiar with Bocas Del Toro? That's where my friend is building.
 
Blackflag said:
I can buy a house in Panama because my daughter is a dual citizen(they have a law preventing non citizens from owning property). I was getting ready to buy a really nice house for 30k but I chickened out because the military were all leaving.
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Is that still the case? Because there have been a lot of US investors going down there and building and as I was told also buying the property. One of my clients is an international real estate broker and to my knowledge she does not have citizenship, but has bought several condos down there.
 
Superfreak said:
Is that still the case? Because there have been a lot of US investors going down there and building and as I was told also buying the property. One of my clients is an international real estate broker and to my knowledge she does not have citizenship, but has bought several condos down there.
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Yeah, my buddy down there building said there target is American and European buyers.
 
Superfreak said:
Is that still the case? Because there have been a lot of US investors going down there and building and as I was told also buying the property. One of my clients is an international real estate broker and to my knowledge she does not have citizenship, but has bought several condos down there.
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I dunno, this was in 1994. I think they've always courted foreign investors. Maybe it was just a law that pertained to individuals and not companies. I'm not really sure but we were told you had to be a citizen to own a house. Someone could have been bsing too I guess.
 
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