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I totally agree, a Vegas Airbnb I stayed at was a prime example. It was purchased for $500K in 2005 and Redfin estimated its value in 2018 at $220K. Cities lik
by acwan93 5y ago
I totally agree, a Vegas Airbnb I stayed at was a prime example. It was purchased for $500K in 2005 and Redfin estimated its value in 2018 at $220K.
Cities like Detroit or Pittsburgh (until recently) are also examples. Large cities along the west coast could probably be too new to suffer a collapse in prices yet.
- numbsafari 5y agoIt's all relative and cyclical. Even SF was it by the 2008 crisis. If you bought in 2008 and had to sell any time prior to 2014, between carrying costs and transaction costs you most likely lost money. By the same token, I bought a house 2 years ago on the East Coast and made bank selling it this Spring. Only time will tell what buyers in this market are going to experience.