Re: Las Vegas Investors…Pls share the current - Posted by CH
Posted by CH on January 27, 2002 at 12:11:45:
I’m keeping my eye on the Las Vegas economy and real estate market. Las Vegas was #1 in percentage of job loss in 2001 and is forecasted to be #1 in 2002. Most of the large employers, mainly hotel gaming related, have laid off many people. This has and will continue to filter down into the economy affecting spending leveles.
Vacancy rates in commercial properties are at extreme levels and the foreclosure rates are up compared to previous years. I’m a BIG proponent of real estate cycles and have greatly profited from them in the past. If Las Vegas continues along the path it’s currently on, then by the end of 2002 it should be a good time to buy others problems.
What are the three most important things in real estate? You’re wrong if you said location, location , and location. The correct answer is TIMING , TIMING, and TIMING.