http://pleaseactaccordingly.com/2009/06/housing-is-the-business-cycle-so-where-are-we-now/ Mon, 01 Mar 2010 05:33:57 -0700 http://wordpress.org/?v=2.8.4 hourly 1 http://pleaseactaccordingly.com/2009/06/housing-is-the-business-cycle-so-where-are-we-now/comment-page-1/#comment-74 Lee Traupel Wed, 01 Jul 2009 00:06:59 +0000 http://pleaseactaccordingly.com/?p=594#comment-74 You statistical analysis is excellent. But, we would counter some of your analysis about the Las Vegas Real Estate market. Who can call a bottom for a market? It's very hard to do; but, we think a bottom may have formed in our local market or be forming. Here's why: first, we have levels of affordability not seen in 3-5 years; "affordability" is driving a tremendous amount of interest in our market, with a large per centage of buyers that are investors, who are snapping up homes in the $0-150K range that are cash positive immediately; second, we have multiple offers for many of our homes and "the next wave of foreclosures" being released by banks may help our market, not drive prices lower; third, perception is reality and what we read in national media is not consistent with what we are "seeing on the ground" in Las Vegas. Yes, it's a challenging market like many around the US; but, it's not as bad as many writers, bloggers and editors think! You statistical analysis is excellent. But, we would counter some of your analysis about the Las Vegas Real Estate market. Who can call a bottom for a market? It’s very hard to do; but, we think a bottom may have formed in our local market or be forming. Here’s why: first, we have levels of affordability not seen in 3-5 years; “affordability” is driving a tremendous amount of interest in our market, with a large per centage of buyers that are investors, who are snapping up homes in the $0-150K range that are cash positive immediately; second, we have multiple offers for many of our homes and “the next wave of foreclosures” being released by banks may help our market, not drive prices lower; third, perception is reality and what we read in national media is not consistent with what we are “seeing on the ground” in Las Vegas. Yes, it’s a challenging market like many around the US; but, it’s not as bad as many writers, bloggers and editors think!

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