So when’s the housing bubble bursting?

Inventory flooding Las Vegas Valley’s home market with no buyers in sight: Zillow

Inventory across the country is up 19 percent (which means the Las Vegas Valley is 25 percent higher than the national average regarding this metric) from the end of March 2024 to the end of March this year, which puts the total number of homes on the market for sale at 1.15 million. This is the most real estate on the market in the country since March 2020 during the start of the pandemic.

By Patrick Blennerhassett
Las Vegas Review-Journal
May 2, 2025



I live in Vegas

lots of homes

shit isnt selling, because of listings like this


A house bought for 550 5 years ago, they think they can get 1.5 mill now for nothing.

There are plenty of houses around here the same way...
 





 
I live in Vegas

lots of homes

shit isnt selling, because of listings like this


A house bought for 550 5 years ago, they think they can get 1.5 mill now for nothing.

There are plenty of houses around here the same way...



I hear you on that, HC.


The numbers just don't add up.


As I've mentioned on the board once or twice, I still scratch my head at some of the numbers for the property I grew up in. It's your standard 3 bed, 2 bath. Nothing special. Built in 1959, my parents bought it in the early-80s for under $130k. They divorced in the mid-90s, and mom went on to sell it in 2001 for 300k. The next owners resold it at a loss a few years later for just under 198k.

It hasn't been resold since, and as of the last time I checked it was assessed at over 1.8 million. I just rechecked those numbers now and the assessed value as of last summer is over 1,920,000. Pretty much just land value really, as the "building" is valued at under 60k. I've driven by there a few times over the years and the home looks like it has less personality now than it ever did. Trees and shrubs were cut back, and it's more exposed and with less privacy, and looks dated compared to newer, remodeled homes around it.

But yeah ... quite the investment for the people who bought it in 2004. Imagine paying less than 200k for something that's worth 1.9M+ just over 20 years later. The people who had it from 2001 - 2004 are probably kicking themselves.
 
I hear you on that, HC.


The numbers just don't add up.


As I've mentioned on the board once or twice, I still scratch my head at some of the numbers for the property I grew up in. It's your standard 3 bed, 2 bath. Nothing special. Built in 1959, my parents bought it in the early-80s for under $130k. They divorced in the mid-90s, and mom went on to sell it in 2001 for 300k. The next owners resold it at a loss a few years later for just under 198k.

It hasn't been resold since, and as of the last time I checked it was assessed at over 1.8 million. I just rechecked those numbers now and the assessed value as of last summer is over 1,920,000. Pretty much just land value really, as the "building" is valued at under 60k. I've driven by there a few times over the years and the home looks like it has less personality now than it ever did. Trees and shrubs were cut back, and it's more exposed and with less privacy, and looks dated compared to newer, remodeled homes around it.

But yeah ... quite the investment for the people who bought it in 2004. Imagine paying less than 200k for something that's worth 1.9M+ just over 20 years later. The people who had it from 2001 - 2004 are probably kicking themselves.

Difference is that in most places that rise took 20 plus years
In Vegas they are trying to get that after 3-4 years
 
I live in Vegas

lots of homes

shit isnt selling, because of listings like this


A house bought for 550 5 years ago, they think they can get 1.5 mill now for nothing.

There are plenty of houses around here the same way...
You can get houses like that in California at that price . I hope nobody is retarded enough to spend that in a shithole desert like Vegas smfh
 




 





florida-houses.webp
 




 






 
I live in Vegas

lots of homes

shit isnt selling, because of listings like this


A house bought for 550 5 years ago, they think they can get 1.5 mill now for nothing.

There are plenty of houses around here the same way...
Pretty sure it didn't look the same in 2020.

It just the times, same thing going on in my neighborhood. They are selling tho
 
You can get houses like that in California at that price . I hope nobody is retarded enough to spend that in a shithole desert like Vegas smfh

You are not getting these houses at those prices in anywhere in California where people want to live unless it’s places like inland empire and desert areas that’s basically Vegas with more Mexicans and meth
 
Condo owners sue over New York skyscraper they say is riddled with ‘thousands of severe cracks’

The condo board at 432 Park Avenue, a super-skinny high-rise on Manhattan’s Billionaire’s Row, claims that real estate firm CIM Group failed to disclose the extent of damage that has resulted in flooding and impacted the value of their multimillion-dollar properties.

By Oscar Holland, CNN
May 15, 2025


gettyimages-1305381700.jpg

The condo board at 432 Park Avenue claims the skyscraper's developers failed to disclose the extent of damage that has resulted in flooding and impacted the value of their multimillion-dollar properties.
 
Millionaires Surge In NYC As Middle Class Gets Priced Out
April 2025

New York City now has nearly 400,000 millionaires, more than any city in the world, despite predictions of a wealthy exodus during the pandemic. Middle-class families are being priced out, forced to relocate to places like New Jersey and North Carolina, where rising costs and interest rates are creating new housing challenges.

 
78 Year Old Woman Describes Living In Her Car For Nearly 2 Months Amid Surge In Homelessness
May 14, 2025

A startling number of South Florida senior citizens are experiencing homelessness. One woman was brave enough to share her story in hopes of helping others find their voice. 7’s Heather Walker investigates.

 
78 Year Old Woman Describes Living In Her Car For Nearly 2 Months Amid Surge In Homelessness
May 14, 2025

A startling number of South Florida senior citizens are experiencing homelessness. One woman was brave enough to share her story in hopes of helping others find their voice. 7’s Heather Walker investigates.


In a beamer with a louis duffle
Something seems off
That car is way newer than she said
 
Millionaires Surge In NYC As Middle Class Gets Priced Out
April 2025

New York City now has nearly 400,000 millionaires, more than any city in the world, despite predictions of a wealthy exodus during the pandemic. Middle-class families are being priced out, forced to relocate to places like New Jersey and North Carolina, where rising costs and interest rates are creating new housing challenges.


Millionare is the new middle class
All they do is add up ur house and 401k call and call you a Millionare.
 
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