Wednesday, December 5, 2007

Las Vegas High Rises Still the Place to Invest


A lot has been said lately about housing, especially from the horror-story loving media. People love a tragedy, makes 'em feel better about themselves. Others just want the facts. Those who bought a home to live in it will be okay, and the surplus will be absorbed by 2009 to bring us back to "normal" levels.

A high-rise in downtown Las Vegas (Streamline Tower) those investing or purchasing are doing so with a 5-7 year minimum mindset due to the long-term growth expected. Sure, sales have slowed, but we do not have the inventory glut the single-family residential market has - we're more luxury which has been less affected.

In fact, with the city's proposed $20 Billion + in improvements, the Strip with currently about $50 Billion in projects creating jobs, and another $13 Billion plus in the Union Plaza growth, real investors are still buying! Too bad all the wanna bees with no real assets used stated income/ no down loans to drive up the vanilla box (residential housing) market - But IT WILL LEVEL OFF. Did you know we are actually closing the amount of homes we were in 1999-2000? That was normal - We're just about there. See more luxury listings on my network: