Posted by Al Rosetti on January 02, 2001 at 13:11:02:
What you say makes sense however I think prices will rise anyway. Here in Phoenix the land is basically infinite and home prices are constantly on the rise anyway. I think part of it is because more people are moving in than home builders can build houses. The population of Arizona has increased 40% in just the last 10 years.
–Al
buying property in las vegas - Posted by armand
Posted by armand on December 25, 2000 at 20:52:03:
heard a lot of buzz about las vegas and have a relative and couple of aquaintances bought a place there,where is the market going 5 to ten years from now.
they said it is one of the best place to invest right now. any opinions?
Re: too much open space - Posted by BillW
Posted by BillW on December 25, 2000 at 23:32:56:
Armand,
I hear it’s true that Las vegas is one of the fastest growing areas right now. One thing to consider is the availability of land for development. When you are talking about the factors that drive housing prices up, you are basically looking at supply and demand. As long as there is plenty of land to build on, the prices won’t go above what it takes to build. You might still find deals, however, in distress situations. In my opinion, you probably won’t find rapidly rising overall values in this area because of plentiful land. If someone knows info to counter this idea, please let me know.
BillW.