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Another Housing Bubble In Las Vegas
Another Housing Bubble In Las Vegas

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AIR DATE: June 3, 2013

The latest Case-Shiller Home Price Index says Las Vegas has enjoyed 24 percent increase in prices over 2012. But that may not all be good news. What if the city is facing another housing bubble? What if this is destined to collapse again after another flurry of speculation? When is the time to buy? 

 

GUESTS

Rob Lang, Professor of Urban Affairs, Brookings Mountain West

Dean Baker, Co-Director, Center for Economic and Policy Research

Heidi Kasama, President-elect, Greater Las Vegas Association of Realtors

 

 

 

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    COMMENTS:
    First time listener. This was a great show. Thank you for having an awesome, informative, and smart discussion.
    ThomasJun 9, 2013 20:03:23 PM
    As ever it's about supply and demand. Without builders adding inventory to bring about some balance to the market, we will be facing an unrealistic run up in prices. Until we see the billboards around town which are advertising for short sales being completely replaced with billboards for new home developments, we will remain in the sticky situation we are in now. The billboards are a litmus for whats ailing the market.
    Michael MuggeJun 3, 2013 09:42:15 AM
    If this housing 'bubble' bursts, look to those that thought they would become fat cats by buying up each and every house they could at rock bottom prices to try and rent them at nice huge prices or sell them at twice what they bought them for. And in the process totally screwed the marked for anyone trying to honestly sell their house or honestly trying to buy a house and not pay too much for it in the process.
    Kim HobbsJun 3, 2013 16:26:07 PM
    In 2003 we built home that's currently (supposedly)valued @1.1 m. Not "upside down" but want to execute our plan to downsize (we're 2 years late on that). We're immobilized by history and current horror stories....out of 3 custom/luxury properties in our neighborhood 2 went for cash and one conventional. We want to stay in our area (anthem) but downsize. Is this a good time? Yes we have a great realtor since we've been here since early 80s
    amber Jun 3, 2013 09:40:09 AM
    When will the appraisals rise to the prices that houses are selling for? I own a rental property, my renter wants to buy the house, he's been approved for up to $180,000, I need $135,000 out of the house, but it will only appraise for $110,000. Therefore, he is out of pocket $20,000 on a second note. Houses in the area are selling for $140,000 to $180,000 due to cash buyers. If the houses appraised for the asking or selling prices he could buy the loan now.
    Judy GirardJun 3, 2013 09:33:47 AM
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