Mechaman
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Posts: 13,791
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« on: March 29, 2012, 08:58:37 AM » |
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You think that the problem with the Las Vegas real estate market is lack of supply? That's an odd take....
Of course. More supply would mean far lower prices. It would mean the bubble and burst would have been both smaller and smoother, and by definition their wouldn't be such affordability problems.
Vegas doesn't have an affordability problem. They have extremely reasonable prices and a huge oversupply of vacant houses. You can get a very nice home there for $100,000, which is less than they cost to build. That's why nobody is building anymore.
Holy wow. I'm moving to Vegas.
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