Las Vegas ranks highest in home foreclosures across the country

Anyone who owned a home during the 2007 housing crisis, remembers how scary it was back then with so many families losing their homes to foreclosure.
Now, housing analysts are starting to see a foreclosure uptick once again, and unfortunately, Las Vegas is at the tip of that financial spear.
First, it's important to mention that our situation right now is nothing close to the foreclosure crisis we saw during the Great Recession.
That said, a new report from Attom Data does make you take notice, especially when you see where Las Vegas and Nevada land on the foreclosure list.
Full Story news3lv.com/news/local/las-ve...
Plus, Several systems and functions remain down as MGM says casinos, hotels 'operating normally', and Las Vegas teens' crime spree in Andreas Probst murder
0:00 Las Vegas ranks highest in home foreclosures across the country
3:21 Several systems and functions remain down as MGM says casinos, hotels 'operating normally'
6:01 Las Vegas teens' crime spree in Andreas Probst murder
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[@DjWestcarr]

Homes are overpriced everywhere, people need to talk more about that..

[@torsten6777]

Homes? Everything is overpriced, no matter what. Or maybe it’s just the dollar that has become worthless due to the near zero interest rates during the last administration.

[@SirenASMR_]

Agree

[@kevinwilson3337]

@@torsten6777totally agree, even a large bottle of water is almost 4 dollers at the grocery store .

[@lornachavis7276]

Well It's Fine. Minimum wages raised slightly. We knew the increase would be passed on to Consumers. It's what the Current Administration Planned. Higher prices. Get used to it. Now we have bout 9000 per day New Mouths to Feed in America. Cuz we want People who's Countries are Failing to have Some Where to Go. And We Will Help Them.

[@rillawhat8142]

👍🏾👍🏾👍🏾

[@Delanoay]

The emphasis they put on the comparison to 2007 tells you everything you need to know.

[@davidwaVR]

Yeah obviously someone wants to 1984 reality big brother is watching

[@FrankGallagherr]

Good great perfect thanks Biden

[@contrarian2day]

gonna be worse this time

[@Delanoay]

@@contrarian2day I hope

[@FrankGallagherr]

@@contrarian2day Much much much worse

[@ivdubgti]

Bank says i cant afford a $2500 Mortgage so i continue paying $2500 to rent a two bedroom apartment. What a Joke

[@jurisram1]

Count your blessings. By early next year you’ll look like a genius.

[@tamm3757]

😂😂😂😂😂😂 isn’t that something…don’t make sense, it sucks!

[@FnGRZupra]

Because 2500 mortgage + home maintenance is much more than 2500/mo rent

[@Lyfecaptured]

If a real estate agent says “everything is ok” it’s time to panic…

[@y.r.9401]

They are all liars!

[@rathelmmc3194]

What else are they going to say? It's always the best time to buy and sell.

[@LisaLisaAtl]

We’re in a recession just like in 2007, and the news is not reporting the severity. This is just the beginning.

[@kevinmoore.7426]

Demonrat induced

[@DxModel219]

buyers are dried up… prices are going down but no crash

[@scotts9760]

Not even close. Have you ever studied economics?

[@federaikkonerer]

you have no idea how bad it was in 2007/2008. It was close to a depression.

[@keremcagintv]

And yet the mainstream financial media are hiding the realities of how inflated the cost of goods are at this point and how core inflation is still persisting!

[@vuaeco]

Taking advices from a realtor who's selling you the house is like taking advices from a car dealer who's selling you the car you're trying to buy.

[@cloudsmith7803]

Don't trust those sharks!

[@hydrodude2948]

Amen you are so right

[@neverdown222]

So it’s better to take advice from your landlord? Pay your landlords mortgage?

[@Gabber44906]

The news media is clueless as to how bad it is and will get in my opinion.

[@rillawhat8142]

👍🏾👍🏾👍🏾

[@MachineGunPepe]

News media in this country is clueless about everything.

[@jaymarcase9737]

They’re not clueless, they’re lying.

[@thedevilsadvocate5210]

The greed will be the downfall

[@anthonymartinez4307]

Sheep have been fed now the wool is ready for cutting then the slaughter. Those casinos still have issues. They tend to hide a lot of bad things about that city apparently. Homes are already being sold on the low but nobody buying. Who thinks paying 700~800 for water is low?

[@GillerHeston]

I believe the housing market has been highly overpriced. There are different factors. Some of it is more buyers than sellers. People get in bidding wars over a home. Most homes sell within 2 weeks. Then if you want land in the country between the rich folk who are paying way to much for property they make it impossible for average people to purchase in the country. It's going to implode because all the people who paid a premium for house's are a paycheck away from losing those homes. Look at the trucking company that just went out of business. How many of those employees will lose their homes. Look at other big companies that announced layoffs. Housing will be taking a big hit and prices will drop.

[@rogerwheelers4322]

I bought a house with cash in 2021. The insurance and property taxes have doubled since then, and now costs more than I ever paid in rent in my life. I feel that I would be better off living in a studio apartment in a warehouse again and investing the money in anything else.

[@eloign7147]

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

[@joshbarney114]

Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.

[@FabioOdelega876]

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same. Is there any chance you could recommend who you work with?

[@joshbarney114]

I definitely share your sentiment about these firms. When I was starting out, I checked out a couple of freelance investors online, so you could do the same. I personally work with “Colleen Janie Towe”, and she's is widely recognized for her proficiency and expertise in the financial market. With a comprehensive knowledge of portfolio diversification, she is acknowledged as an authority in this field. Most likely, her deets can be found on the net, so you can confirm yourself.

[@Ladyvisionary]

Wow! My former co-worker was not lying when she said houses in her neighborhood has been going up in foreclosure! She’s soooo happy her house is paid off!!

[@kimocoloma4123]

She shouldn't be happy for her neighbors losing their houses.

[@Ladyvisionary]

@@kimocoloma4123 Where did I say she was happy about her neighbors losing their homes? 🤔 I wrote, SHE’S HAPPY HER HOUSE is paid off. 😑

[@DallasAndHouston1]

You "CONFUSED INDIVDUAL"...she do not QUOTE that@@kimocoloma4123

[@FrankGallagherr]

Good great perfect thanks Biden

[@sitdowndogbreath]

I've seen people who own their homes or condos get condemned in Miami Beach and they have to leave on the spot so do you really think you own something Honey you don't even own your own wife and vice versa by the way.

[@michaelbatty2645]

Might want to check your facts. Also getting advice from a realtor is not a good Idea. They helped house to become over priced

[@TheeLynnChase]

if people think it's caused by Realtors, they are exposing how little they understand economics and monetary policy. Smh

[@michaelbatty2645]

@TheeLynnChase I understand economics 5 times better than you do. And yes realtors do cause housing to increase. I've seen it, used it, and promote it.

[@jimshoe402]

@@michaelbatty2645 They had that in Bellwood, IL in ONE YEAR the whole area changed . On 60 mins first they sold every house to whites they could then Blacks. Whites moved out sold 2x in a year . Gun Shots 24/7 as I lived next town so did GF. ASSHOLES thats a RE..😝😝😝😝

[@edward.abraham]

I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quite mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.

[@Kim.beneteau]

A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

[@hunter-bourke21]

On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal portfolio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $350k since then.

[@james.atkins88]

@@hunter-bourke21 I've been thinking of going that route been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, do think your Fin-coach could guide me with portfolio-restructuring as i wouldn’t mind a recommendation.

[@hunter-bourke21]

My advisor is "Camille Alicia Garcia, A renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@james.atkins88]

Thanks, I just googled her I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.

[@anthonymartinez4307]

She doesn’t give details just gives substitutes reasons. Here’s the real reason ~ 1: Cost of living skyrocketed ~ Groceries, Gas, Water, Electricity, and more jumps on these already mentioned. 2; Las Vegas pays the lowest wages, cops, troopers, teachers, casino workers ( all fields) minimum wages are the lowest when they should be like any thriving big city ( New York) 3; There’s no options of different work ( it’s super hot) with the cost of living taking off on a 6.4 Hemi and going, meanwhile the wages are a 1970, broken down Dodson on the desert somewhere. These homes were seriously overpriced 200~ thousand selling at 489,000,00 ~ people got robbed. The prices are dropping and with looming higher cost being ready to hit soon ~ how can someone afford a 700, 00 dollar water bill and a 600~700 hundred dollar electric bill? Your home payment is 2,896 plus trash ~ who is paying 10,000 a month? You need 120,000,00 annual to keep up with the never ending cost of living that just keeps killing the sheep! They fed you now they want your wool and ready to slaughter you……

[@Tammy121111]

😮 SOME ONE ELSE WITH SOME COMMON SENSE

[@Anomize23]

I can’t believe they interviewed THIS LADY!!!😂😂😂😂😂😂 If this is the definition of a real estate veteran, SOMETHING IS WRONG ABOUT THIS!!🤡 Oh and the market is just doomed.

[@jurisram1]

@@Tammy121111 they exist!

[@christianlarson7259]

um, this is going to happen all over the US...not just Nevada. Not bad because people saw it coming?? That helps?

[@faraon2012]

I Say, Wonderland is gone forever and ever. 😢

[@FrankGallagherr]

Good great perfect thanks Biden

[@AzzekaTheRealOne]

Rent is obscene as well.

[@Resmith18SR]

With the large number of pedestrians and bicyclists hit and killed in Las Vegas it may be an even bigger gamble to just walk or cycle there.

[@nicolasbenson009]

The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.

[@hersdera]

You're not doing anything wrong; the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.

[@SandraDave.]

Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

[@hersdera]

Actually, I'm not sure if I'm allowed to mention this, but I'd recommend looking up " Margaret Johnson Arndt” because she was a big deal in 2020. She manages my portfolio and serves as both my coach and my manager.

[@rathelmmc3194]

There is demand, just not at these price points. The prices are ridiculous and frankly will have to come down to the income levels here for transactions to pick back up.

[@shanerogers9386]

I disagree with the “families losing their homes” narrative. In many cases they couldn’t afford them to begin with. Or they could afford it and decided to stop paying when the value dropped.

[@thedevilsadvocate5210]

Maybe they lost their jobs

[@jurisram1]

Hah. . . the breeze of truthfulness.

[@profitmix441]

Loosing your job in this inflation time we are in? Anyone can get thermos home repossessed thanks to bidenomics

[@Miranda3730]

So are they not losing their homes? They are, it doesn't matter the reason.

[@garnetrose6162]

We need laws to prevent investors like Realtors and Private Equity from buying up foreclosed property causing the housing shortage

[@FnGRZupra]

Nah private equity buying foreclosed properties actually helped 2008 from becoming a bigger mess.

[@ViceCoin]

I'm looking for a foreclosed massage parlor or gym.

[@hedgedrisk]

Tell me you don’t know how money works without telling me

[@themichaelw]

FYI in 2008 the foreclose rate in Nevada was 1 in 14. So the foreclosure rate today is still 100x less than 2008.

[@RSI24]

Combine this with credit card debt and watch it all crash togethef

[@hellslayer9638]

1 in 14 ??? Man that's disaster level bad

[@adamoliver4094]

Thanks for the perspective. People forget how bad the financial crisis was.

[@chriswomack922]

For now.

[@vegasminimansion]

The GOV saying their trying to stop inflation, but power electric, water, and gas is all skyrocketing 🤔

[@checkoutmyyoutubepage]

All while mega corporations are setting record profits.

[@torsten6777]

Trying to stop is different from actually stopping

[@Wickerman2023]

Its juts one way of saying "its beyond their control"

[@gsantana4087]

Keep purchasing those overpriced homes.

[@Freeworld856]

Taxes and property insurance is making it extremely difficult to keep up with those payments.

[@merovingian688]

Yes we’re in trouble. People living off credit cards. Student loan payments are kicking in. If you’ve been watching gas prices, you know inflation is headed back up.

[@EXEON727]

“Never let a crisis go to waste”

[@hotvegas2498]

Where are they? I don’t see any foreclosures for sale! 🏘️

[@dethray1000]

they are there,have to dig for the info--go to bank notices

[@jasoncaine2600]

Try looking 🤷‍♂️

[@DeshaunDamon]

HUDhomes website. Once the bank gets the home they usually unload it to the government for tax purposes.

[@beannamated]

I look at Zillow occasionally. One morning, a LOT of homes said pre -foreclosure or something along the spectrum. Then, it all disappeared. It was bizarre.

[@marksellinger3736]

How can you take this station seriously when they cannot even spell Delaware.

[@adamdelarozza1985]

It's NBC, they show & tell-it like it ain't

[@nervyodds3937]

It's Vegas. They're stupid. Last place when it comes to education, and it shows.

[@elgin6772]

😂

[@jasoncaine2600]

Take your complaints to the cia they run the media 🤷‍♂️ operation mockingbird

[@Mtnsandoceans]

Mike said it’s just an imbalance funny 😂 Powell said jobs need more softening !! When you loose your job and can’t feed your family just tell them you were softened . Black rock will buy them you will own nothing and HAPPY !!

[@anthonymartinez4307]

The bald headed guy saying it won’t happen lol sure bud this is worse than 2008, you did nothing different. Those casinos are still having issues. And natural gas will kill many businesses. The water and electricity is gonna keep going up.

[@elihubildad6677]

Homes are way over priced for the quality compared to other city’s. There trying to calm fears sound like.

[@Pleaseopenyoureyes]

*cities *They’re trying to…

[@ClearanceCollector]

Housing crisis is different compared to 2008. Last time was subprime, people buy houses they couldn’t afford. This time, it’s about investors. They got low rates, so if no renters, investors got savings to cover it. And since they are investors, they know not to sell at bad market so they are holding it. Thus, low inventory if any.

[@HipHopCantSaveMe]

Incorrect actually. Yes, there are far more investors this go around, but it's not what you think. 90% of investors are private citizens, not big conglomerate companies. Meaning, many of these investor homeowners are people that had a little extra cash during Covid and decided to try their hand at buying a rental or AirBnB. These investors have no money left. The 10% company owned investors sold in 2022. This is going to make 2008 look like a picnic.

[@lovethieves1383]

this. 2008 "Home buyers = home buyer that might live in it but will flip it" 2023 "Home buyers = individual investors or corporation that are looking for renters and its ok to sit empty as a tax loss"

[@rondye9398]

Over the last 5 decades of experiencing these cycles, I can tell you these "investors" cannot weather the storm. I have known so many multimillionaires think they can wait out these cycles go completely broke and lose everything!

[@kimocoloma4123]

Low rates on mortgage? What have you been smoking? Interest rates has been the highest in decades. It's been constantly raised by Fed Sec. Powell every quarter.

[@kimocoloma4123]

@@HipHopCantSaveMe $750 and $1200 t you call extra money? Gas prices has tripled along with groceries. That's not even enough for application fee, and appraisal. What ? Did you ever bought a house in your lifetime. $2000 is a deposit to move in to 2 bedroom apartment by the ghetto.

[@Joherandez-jz4jn]

Who chooses to live in Las Vegas where is in the middle of a desert and most jobs will be linked one way or another to Casinos which is one of the first industries to suffer in an economic downturn.

[@TheIrvingsylva]

Absolutely no one is mentioning this…

[@TK-gd9td]

remember life is a bell curve. there are 50% of country stupider than the average american. youll find your answer somewhere in there.

[@ralphmontemalo6378]

Not sure if you realize this, but, EVERY SINGLE JOB that exists where you live, also exists here! Plus, there are also casino jobs to go along with those other jobs! Let me give you an example…….If every casino in Las Vegas went out of business, I would still have my job!

[@cesartoledo5621]

FJB, interest rates are high and they’re not going to come down, who are these fools trying to gaslight?!?!

[@sunny-frevr]

I'm not surprised that is happening to Sin City. Foreclosures were highest during 2008/2009 recession as well.

[@cloudsmith7803]

Canary in the coal mine, more to see.

[@AlbieVas]

nation wide - Serious delinquencies (90+ days past due) continued to improve, falling 20K from July to 448K - still the lowest level since June 2006 - and down 151K (-25%) year over year

[@armando6315]

ONCE AGAIN..BIG REALTORS GROUPS, AND HOA' FIRMS FLEX THEIR MUSCLES AND INFLATE HIGH PRICES,PLUS , FORCING US TO INVEST IN BUYING A CAMPING TENT JUST INCASE.

[@federaikkonerer]

I just bought two Coleman tents just in case.

[@Pleaseopenyoureyes]

*their muscles

[@davep5095]

"It's just a gully" who is this joker saying it's not going to be dramatically impacted.

[@MarkDoesThings.]

There are so many houses in pa and jersey going up for sale right now scares me.

[@googletv2672]

The government and the monopolized industries want higher home prices for their best interests

[@InvestingWithAdamK]

It’s amazing how they use these numbers. The number of homes in foreclosure tiny currently. Highest or not there’s something like less than 3% of homes in default of their payments. This is just a good headline for the news.

[@rathelmmc3194]

That 3% (2 months ago when you made the comment) didn't take into account anyone in forbearance. What do you think it's going to be when those programs end?

[@InvestingWithAdamK]

@@rathelmmc3194 I don’t see it as a major issue.

[@Horseracingtip]

Las vegas prices have gone up quite a bit. They need to come down a lot.

[@worksmartnothard8281]

I wish all homeowners who bought hoses during covid and caused the housing bubble to be foreclosed on 🙏

[@brianoleson9224]

who buys a home when we are going through a health crisis not seen since 1918? they do deserve it i hunkered down all this time i didnt go out and buy stuff

[@lornachavis7276]

When Your Landlord says. Smu.... up the rent up the rent and you can move to the street. Or pool all your Family's Money to buy. Buying a House is better than the pavement.

[@jontran4808]

What do you have against hose owners???? 😜

[@anthonymartinez4307]

Las Vegas cannot sustain living wages you can’t cater to billionaires without the working class but now they can’t afford the cost of living.

[@user-jh4se5ng2d]

​@@brianoleson9224since 1918 huh , really

[@cpvsgvmnt2116]

Well.. that will drop home prices as they go to market.

[@dadrewco100]

2008 1000’s of foreclosures . 2023 500 foreclosures . So what they will be future section 8 homes .

[@Ladyvisionary]

My former co-worker is scared that might happen. Many her neighbors have been working multiple jobs to keep their home.

[@AndyonBlast]

500? Yeah ok

[@rl3810]

Pay your bills. Americans are at a record high 1 trillion in personal credit card amd personal loan debt. If you didn't have those high credit card debts would you be being forclosed upon? 80% of the people struggling have lived irresponsibly on credit cards for things they didn't need amd now its time to pay up.

[@Leo_Vasileio]

Keep buying overpriced homes based on false demand. The average incomes in las vegas are nowhere near where those home prices are but we were told that there is a shortage of homes and high demand. Yeah right!

[@williamzander4732]

Overpriced crap

[@BIGGOODBOY]

How can I get my hands on foreclosed homes

[@Mountainman524]

Interest rates need to keep going up. Inflation is still sky high.

[@ClownWorldHONKHONK-yj5sn]

We need Volcker 18%

[@gregorytremaine1164]

People are running on "Credit Vapors" and it's running out.

[@wasappeningvato]

At the same time there's many of us that have been waiting for years for a crash so we can buy low, unfortunately like the lady said we're in a whole new territory, not sure if we will ever see the day.....

[@jaymarcase9737]

We’re in a whole new territory because the government can’t print its way out of the downturn like it did in 2008 without causing massive inflation. So when the bottom drops out it’s going to get extremely ugly.

[@omalashevich]

Uptick???

[@pharoah1200]

The homes are there but the sustainable job salaries are not there.

[@paule8536]

As much as homes have gone up the last few years how is anyone losing them to foreclosure? How do you not have equity to sell ?

[@user-uh6iz4tx5h]

Yeah…, I’m waiting for this bc I’m going to retire there and trying to buy at the bottom!!!

[@pharoah1200]

That's the ticket.

[@hasenafarms6448]

We haven’t even started massive layoffs yet.

[@rillawhat8142]

Exactly!!

[@TDS621]

Migration is poised to take care of that😫

[@timothychoppo]

Ppl are gna forclose but it wont effect rhe market😂 okay guys🍿

[@rodrigocortes3641]

Shits about to hit the fan

[@gottahaveawawa7494]

My aunt used to live here she got into a bad gambling addiction lost everything

[@gottahaveawawa7494]

House car job everything

[@pharoah1200]

That'll do it.

[@gyroscopejones9217]

She doing ok now?

[@gottahaveawawa7494]

@@gyroscopejones9217 she’s doing much better then she was 2 years ago. She’s definitely not as financially set as she was but not gambling anymore. She has left Vegas and moved to Texas as well.Thanks for asking

[@gyroscopejones9217]

@@gottahaveawawa7494 I'm glad she was able to pick up the pieces and start over. Thanks for sharing.

[@nraug7156]

I think that is a good news for the future...house price will go down soon

[@y.r.9401]

When did they buy!? A few mos. Ago!?

[@keremcagintv]

Well when realtors push FOMO to unwitting customers in a community that doesn't have a really well development economy besides hospitality, prices are bound to face a really harsh crash. Boise and Salt Lake City will face the same too!

[@federaikkonerer]

What is the problem in Boise?

[@keremcagintv]

@@federaikkonerer Boise doesn’t quite yet have the same kind of strong economic infrastructure as cities like Seattle, Portland, San Fran, New York or Boston. Idaho is mostly a sparesly populated state which is agricultural and a little bit of hardware companies like Micron.

[@Impozalla]

Las Vegas in the past few months has seen record drops in tourism. Las Vegas strip and Fremont casinos have seen record gambling revenues decline. On top of that, casinos are laying off workers due to record drop in tourism and use other cost cutting methods. Casinos are giving more freebies to patrons than ever before and that in terms affects their bottom line. Once again, Las Vegas is at the mercy of a potential economic downturn.

[@Gregory-Masovutch]

Maybe because it’s a waste of money with nothing to show other than a sky train taking you from one casino to the next. Gone are the days of cheap buffets and dinner shows. We stayed at the MGM Grand apartment’s about 1.5 years ago.

[@Cyrus992]

Music to my tears. Sadly they failed to learn from the last crash! So much has gotten worse such as vacation deals, immigration, schools, corruption/politicians, urban planning and so forth.

[@TheTread123]

Design houses and communities that pay for itself in health, safety, and water and energy use, just depends on what area it will be in the country as to what it looks like.

[@tracymorgan5386]

So why are so many Las Vegas homes still is so expensive, are people in deep denial.

[@brianoleson9224]

this downturn is going to last atleast well into 2027 if not 2029 we havent even seen the mass layoffs and effects of the covid money printing

[@MrTrevorDidier]

Lolz Prices will be higher in 2027. Will let time to the talking.

[@Momo-zz8fl]

Only going to get worse.

[@nexxterra]

But what is the breakdown of people that woke up one day and said "why the heck did I move to Las Vegas for"... then decided to stop paying and move?

[@Mikenorma]

I doubt there are a lot of foreclosures at the moment. There are plenty of jobs here. There seems to still be a demand for homes and a shortage of homes. I see many homes being built at the moment. These homebuilders wouldn't be building if there were not any buyers.

[@dethray1000]

real estate goes in cycles--people get to much debt=in the 50 years i have seen it many times in calif--jobs have nothing to do with----->in the last deal around 2014 2015 we bought 5 houses in vegas for on average 30 cents on debt from the bank--this time around it will be closer to 10 cents on the dollar

[@BabyMonkeyDefender]

Are you in a different Las Vegas? Wait, no. You're right. There's jobs here. Unfortunately they don't pay a livable wage, or they are part-time.

[@melissamartic5976]

This is not California

[@sandyrose2398]

New homes aren't selling --- thousands of people cancelled their purchases across America. Times are bad - and getting worse.

[@andyhughes1776]

Whenever the economy tanks, Vegas is one of the first places to be hit (no job, no money to travel to Vegas!) The economy is tanking.

[@ewarda100]

lets face it vegas real-estate is being propped up by California buyers

[@fitnessfuture]

My insurance guy just told me that they had to hire a team of people speaking Mandarin just to be able to deal with thousands of Chinese buying houses in Vegas! Don't worry about real estates! The Chinese got our back!

[@torsten6777]

Great to hear that they’re bringing back all the dollars that we sent over there! Yay!

[@fitnessfuture]

@torsten6777 exactly! We brought billions of tons of crap from China, to Walmart and Dollar stores, in exchange for our lands and our quality real estate!

[@jaymarcase9737]

😂

[@user-ip2bw8hf2q]

Fkn roaches

[@sferris33]

Good. Maybe prices will go down

[@ForeverStapleton]

History may not repeat but it rhymes.

[@mikeses4392]

How bad could it get? This will be 2006 x5. We have not even seen the unemployment rate increase after more than a year of rate increases and we have more increases on the horizon. The number of homes that will be foreclosed in this round is four to five times more than 2006 after the unemployment rate adjusts and prices follow….

[@dethray1000]

yup--agree --this time around i will make 5 times more than i made on the last go around in vegas---way way way too much debt--me? none..all cash like before

[@mrrightorwrong6272]

Stop it 🛑 it's not going to happen

[@Blackman19498]

Spoken like a trump supporter 😮

[@mikeses4392]

@@mrrightorwrong6272 Time will tell who is right. I like the fact that many younger people would then have a chance at home ownership after a crash. That would be nice.

[@mrrightorwrong6272]

@@mikeses4392 People been saying the same thing for yrs its all just wishfull thinking..

[@timmartin723]

Anyone notice they spelled the state of Delaware wrong?

[@shannondavis5728]

Mass layoffs & adjustable rate mortgages will crash some housing markets across the entire country!!

[@gyroscopejones9217]

Party like it's 2007.

[@jerlaine1638]

Yeah i seriously and highly doubt that the rate hikes are done, sounds like some misinformation to me. Then again the comparison to 2007 was absolutely spot in if you jnow what I mean

[@RSI24]

The housing collapse that's coming is going to make 2008 look like a yard sale

[@GEAUXFRUGAL]

Because as a truck driver I brought 💩 to las Vegas and you never got a load out of there.

[@JohnnyJolter69]

You mean you don't like 650K Valuation on a home that's really worth 325K at 8%? Like I've been saying to all those that bought at the so-called historic rates of low interest. You know what you can never refinance/change? The price you pay. So wait till those 2% interest folks realize they are 200k or more upside down. Maybe that's why we're seeing a sudden spike in refinancing at much higher rates than were purchased.

[@hOtneO]

What did people expect when you lockdown a tourist city for Covid19? The gaming industry was hit hard and now people are being more frugal with their money, the Vegas economy won't be back to preCovid19 levels for many years.

[@Miranda3730]

Mr. Get over it. Do you think the casinos didn't get govt help?😅

[@hOtneO]

What does that have to do with home foreclosures? Obviously what you're saying doesn't make sense and what does casinos getting government help have to do with the homeowners or they wouldn't have to be losing their home? @@Miranda3730

[@Utuber10]

If everyone becomes homeless, what will the govt do?

[@joltjolt5060]

Do they have to get to foreclosures to understand home prices are unsustainable?

[@reaktorleak89]

I love the cut from House Gambling to Card Gambling.

[@benfranklinskite5975]

I'm surprised the realtor didn't say "Home prices will continue going up because the A's are coming to town and we have that eyeball thingy".

[@margaretmcnamara2717]

Low wages hi utilities high rent High food hi Insurance taxes on all your utility bills

[@NoNumberListed]

That analyst is wrong lol.

[@mrlion2022]

First of many concerning trends

[@thebigbosss1000]

Las Vegas is turning into a mini California , and people with a New York attitude

[@brianoleson9224]

i think the average home in las vegas area is around $430,000? its not worth more then $220,000 and even then you gotta worry about climate and droughts effecting the reigon

[@XiJiping12.]

It’s starting! It took three years before the crash in 2008. It’s going to be worse than 2008

[@pharoah1200]

I don't think that it'll be worse.

[@XiJiping12.]

Think Beijing Joe & his Crackhead son!@@pharoah1200

[@dagainsta6253]

Now... we just need this forecast to hit the east coast . Especially n.y and were good to go ...

[@californiaplant-basedeater2761]

Las Vegas is a perfect place for all the remote workers to go live. When/if the gambling backbone dies, first off: who cares? But then there would still be people living there not dependent on that kind of tourism.

[@johnwhite6981]

And a lotta people moved there who couldn't afford it

[@kevinmoore.7426]

Not able to travel, no water, great combo

[@davidwaVR]

😂 gosh I love people who report as authorities who couldn't defined what fiat currency is and then tell you what is the only cause of inflation under a fiat currency

[@josephwebster2909]

The ppl who didn't pay rent on purpose deserve the streets baby, the entitlement of some. I know I got it harder then most and I will overcome. I hate victims

[@enthused7591]

"We don't think it's going to be a big problem this time around." Well, prepare to be disappointed, because the people who bought homes from 2020-2023 are 35% worse off financially even with inflation factored in, than in 2006-2007. Keep an eye on that unemployment rate. It's going to skyrocket right past 5-6% all the way on up to 10% again and when we see 4.5%+ unemployment this market's going to crash even harder than 2008.

[@442Snowman]

But who lives there ? And why? For me , there's nothing there.. Or here , where I am on US50. Seems Fernley is set for future expansion due to the incoming Industrial Sectors. And there is nowhere near the amount of housing or people to run all of that... But what is in Las Vegas ? Casino /Hotel Workers? Seriously?

[@benansanlier4178]

In 2024 mortgage rates 5.78 , 2025 going to be 3.5 to 2.9 % and 2026 going to be 2.7 ,

[@scott331]

She’s certainly not the sharpest tool in the shed 😂

[@paulkieffer1189]

These guys are lying. Home market is a disaster. Melt down hasn’t even started

[@andiepantss6838]

Hey and yet they want to bring in a baseball team. LMFAO