3 ms·

> Houses that went for $120,000 four years ago are listed for $400,000+ for no other reason than people think they can cash in This is just not true. People do

by mevile 8y ago

> Houses that went for $120,000 four years ago are listed for $400,000+ for no other reason than people think they can cash in This is just not true. People don't usually sell their homes to cash in. Selling a house is a stressful, complicated process and it's also very expensive. You can't keep your home listed for long because people will see it hasn't sold. It also involves uprooting and relocating your family, moving all of your belongings and you still have to live somewhere.

ArchTypical 8y ago
> People don't usually sell their homes to cash in. The real gambling was 10 years ago. Having had a few relatives try (and fail, in Vegas) to do just this, I'll have to disagree. Watched about $45k in downpayments+fees in each case evaporate as well as the credit scores as they defaulted.
tCfD 8y ago
Op may be thinking of the 'flipper' type of home buyer, where these would be investment only transactions, kept marginally in the black between sales by prior profits Airbnb etc.
- reaperducer 8y ago
  Nope. Not thinking of flippers. As I mentioned, I personally know three people who typify what is happening. One is a commercial airline pilot. Another is military. The third is an electrician. The electrician might be the one who would be most typically a "flipper" except that he has no time for that kind of nonsense because he's also a foster parent for Clark County. Also, Airbnb is illegal in southern Nevada,† with the exception of the Las Vegas city limits, which is a very small area, and not part of the "resort corridor" that everyone knows about. † http://www.clarkcountynv.gov/administrative-services/Pages/Short-Term-Rentals-in-Unincorporated-Clark-County.aspx http://www.clarkcountynv.gov/administrative-services/Pages/S...
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DoubleCribble 8y ago
I tend to agree, in principle. What you're seeing in Vegas are people trying to sell their rentals (while they still can).

by mevile 8y ago

ArchTypical 8y ago

> People don't usually sell their homes to cash in. The real gambling was 10 years ago. Having had a few relatives try (and fail, in Vegas) to do just this, I'll have to disagree. Watched about $45k in downpayments+fees in each case evaporate as well as the credit scores as they defaulted.

tCfD 8y ago

Op may be thinking of the 'flipper' type of home buyer, where these would be investment only transactions, kept marginally in the black between sales by prior profits Airbnb etc.

reaperducer 8y ago
Nope. Not thinking of flippers. As I mentioned, I personally know three people who typify what is happening. One is a commercial airline pilot. Another is military. The third is an electrician. The electrician might be the one who would be most typically a "flipper" except that he has no time for that kind of nonsense because he's also a foster parent for Clark County. Also, Airbnb is illegal in southern Nevada,† with the exception of the Las Vegas city limits, which is a very small area, and not part of the "resort corridor" that everyone knows about. † http://www.clarkcountynv.gov/administrative-services/Pages/Short-Term-Rentals-in-Unincorporated-Clark-County.aspx http://www.clarkcountynv.gov/administrative-services/Pages/S...

deleted 8y ago

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DoubleCribble 8y ago

I tend to agree, in principle. What you're seeing in Vegas are people trying to sell their rentals (while they still can).