Home Ownership

[unsunghero]

Originally Posted by Gatordash [You must be logged in to view images. Log in or Register.]

I think its finally happening. Home prices are starting to come down a bit and inventory is starting to go up a bit. I've been watching some of these 1/2 acre lots (tough to come by in Vegas) and a bunch have dropped like 50k in price over just the past 2-3 months.

Las Vegas housing market stabilizing despite record-setting growth

Housing Inventory: Active Listing Count in Las Vegas

Nice man, hopefully trending downwards!

Ima be at Harrah’s casino nov 12-15 weekend with big family group. Can’t wait to lose my $100/day gambling budget in 20 minutes playing backjack and then sulk around for 15 hours [You must be logged in to view images. Log in or Register.]

[Gatordash]

I haven't been to Harrah's in years but its in a good location on the strip. They are building this dumb sphere behind harrah's you can check out, its called msg sphere. I havent seen that money pit yet. Speaking of money pits in vegas, they just finished this new casino called ResortWorld that apparently isn't doing great.

US Census Bureau Housing Numbers for end of September:
138 million households included.
4.9% are behind on mortgage.
Of those 4.9% behind, 18.4% are 8 months or more behind on mortgage payments. That's well over a million homes that could be getting added to the market soon and about 100,000 more than their poll just two weeks prior.

[Jibartik]

I asked my doctor what the covid situation was like here and she goes, "idk it seems like everyone gets it from las vegas"

resortWorld sounds like a good time though.

[Gatordash]

Yeah its a city built on getting people from all over the world to come and drink and party. Its a tough crowd to enforce Covid rules on. And now that conventions are back it should make for a fun winter.

[Jibartik]

it's kind of like the plot to The Stand isnt it lol

[unsunghero]

Originally Posted by Jibartik [You must be logged in to view images. Log in or Register.]

I asked my doctor what the covid situation was like here and she goes, "idk it seems like everyone gets it from las vegas"

resortWorld sounds like a good time though.

I was there last year too, and I’ve been probably 10+ other times in my life. I’d say even during covid in 2020 they still had like 75% as many people as usual

This year it will probably be back up to its usual amount. I had natural immunity from COVID last year, this year I’ve seemed to still have natural immunity (daily gym with no mask or precautions and I can’t seem to catch it) plus I’m still trying to get the vaccine this Friday because work could fire me if I don’t by November

So with natural immunity + whatever unnecessary garbage is in the vaccine, I’m sure I’ll be ok

[Jibartik]

Yea it's all a numbers game too like, if you're going to go to vegas to gamble jus think of entering an elevator the same way.

Id imagine the casino floor is actually pretty safe because of the higher O2 getting pumped in there, as long as some person isnt willin out all next to you and lookn like he sweating around the neck.

[Gatordash]

I think we finally saw the top of the market boys. If you wanted to sell your house, hopefully you did it last month. Mortgage rates and inventory have (albeit slowly) been rising in anticipation of the liquidity taper which isn't even scheduled to start until November/December. Powell doubled down on starting the taper mid November today. I still kinda think there is a chance he doesn't do it in hopes of keeping this Ponzi scheme going until February when he gets re-elected chair of Federal Reserve.

[Gatordash]

Of particular note, our iBuying business, Zillow Offers, continues to accelerate as we offer more customers a fast, fair, flexible and convenient way to move. Zillow Offers is proving attractive to sellers even in this sizzling-hot seller's market. Finally, we expect millennial-buyers, low interest rates, and the increasing adoption of location-flexible work policies, to fuel interest in moving for many years to come. And these movers will increasingly demand e-commerce-like solutions where Zillow excels. -Zillow CEO Rich Barton in August

Zillow put a record number of homes on the market in September, listing properties at the lowest markups since November 2018, according to research from YipitData. It also cut prices on nearly half of its U.S. listings in the third quarter, according to Yipit, signaling that its inventory was commanding prices lower than it expected. -Gizmodo

In mid-October, the company said it would be pausing purchases as it works through a backlog of inventory.

🤔

[Jibartik]

Originally Posted by Gatordash [You must be logged in to view images. Log in or Register.]

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how much of that inventory was payed for with covid stimulus? I bet a lot....