[armyjimb]

At this point, all I see is home values is Vegas going down the tubes. Once the economy picks up; which may be years, do any of the pundits on this forum think values will increase? If so, once the prices stabilized, are we talking 1-2% a year increase in home values??

[las vegas drunk]

Originally Posted by armyjimb

At this point, all I see is home values is Vegas going down the tubes. Once the economy picks up; which may be years, do any of the pundits on this forum think values will increase? If so, once the prices stabilized, are we talking 1-2% a year increase in home values??

Of course, home prices will start rising again eventually. I have no idea when it is going to happen though.

[007 license to sell]

Even the analyst wont' make a hard call n this one, they will speculate and the most I have heard is that Las Vegas could take 5 to 10 years before a turn around. Remember we rely on heavily on tourism and until people start spending and coming to Vegas again that isn't going to happen until then.

The analysts say that when there is a turn around it could go to a 2% increase in Value. At this time anyone purchasing a home should look at it as a place to live and not as a piggy bank.

[jfkIII]

In the stock market...they call this a correction. House prices got too high and needed to correct. It all goes back to supply and demand.

[banger]

I'm sure someone will come along and "smack me down" for this but...

I see a VERRRRRRY long road until prices recover.

My reasoning is that after this "blood bath", I don't see where people will be too willing to bid up the price of homes as they once did.

I think the collective memory of these days will prevent over bidding from taking place.

The only possibility I see for rising prices will be the rampant inflation that will surely follow. Use caution though, the idea that prices will rise because of inflation is NOT the same as their value going up, simply the
reflection of the value of the Dollar going down.

Consider in relation to Gold. At one time $32.00 bought an ounce of Gold. On today's market Gold now cost approx. $1,000.00 per ounce!!!

The Gold did not change or become more valuable, it is simply a factor that the Dollar buying the Gold is worth that much less.

[lanerj]

I heard somewhere around 2015

[armyjimb]

I was kinda hoping for a turn around in 3 years. I guess I have to wait longer.

[RCCCB]

I read a pretty convincing article about massive bank fraud causing another massive stock market crash within the year.
If that happens, probably we go into a depression as many more get laid off. Then you will see things go way lower than now probably.

If that doesn't happen and there is a supposed slow recovery after adding trillions to the national debt by Obama (good luck), then maybe we see a consistent rise from where it is within 5 years.

[MR77]

I thought I heard on the news that condo and town-home prices had increased over the last few months. I will try to find the source.

[RCCCB]

Originally Posted by MR77

I thought I heard on the news that condo and town-home prices had increased over the last few months. I will try to find the source.

That would be unusual because condos are usually the last to rise and the first to fall.