Time to make fun of housing bubble cities. Today's target: Las Vegas

July 13, 2007

Time to make fun of housing bubble cities. Today's target: Las Vegas

Go ahead HP'ers, have at 'er...

36 comments:

EconE said...: Why on earth would anybody want to live there?

I wouldn't even want to visit.

Never have...never will.

Is there a tackier, cheezier, lamer energy burning city full of "Ugly Americans"?

I have driven through on ski roadtrips in the past and don't even like gassing up there.; July 13, 2007 10:06 AM
Anonymous said...: Only the scum of the earth would live in Las Vegas

Prices there will fall 50% and more; July 13, 2007 10:11 AM
Anonymous said...: Las Vegas - Utopia of Clowns - to quote J H Kunstler....; July 13, 2007 11:41 AM
Anonymous said...: Las Vegas = Lost Wages; July 13, 2007 11:49 AM
Anonymous said...: Viva Las Vegas

Viva Las Vegas

Viva, Viva Las Vegas!

-The King; July 13, 2007 2:02 PM
Anonymous said...: I have never been there, except to change plans en route to somewhere else. I was surprised to see slot machines in the airport lounge.

Yuk.; July 13, 2007 2:13 PM
Anonymous said...: We want inside intel when you travel there Keith...

Some pictures of the bunnies at The Palms to spruce up the blog are a must!; July 13, 2007 2:26 PM
Anonymous said...: Yep--selling dreams is what we Americans do best. Winning at the casinos or the miracle of "booming" real estate in the dessert service tourism town. Same principle--seperate fool from money. Next up and more disgusting is--Miami. At least in vegas you can go to a show or something. Now just who thought and why that Miami the third world shithole would conitune rising. Vegas is pretty bad but its worse in Florida........; July 13, 2007 2:54 PM
Anonymous said...: Las Vegas was a world destination for gambling but now Macau is giving Vegas a run for its money EXCEPT that the dollar is becoming worthless so we are becoming dirt cheap to Euro owners. Vegas will still have zillions of foreign visitors coming every year.

I think Florida is more worthy of derision and scorn. There they are still building condos which will remain vacant but in Vegas they are still building casinos which do in fact employ a shitpile of people.

Like I said, Americans won't have much to gamble but there is an even greater incentive for foreigners to come as the dollar crashes.

Plus they've built Vegas up so that it resembles a giant Disneyland. It is and always will be a major foreign tourist destination.; July 13, 2007 3:24 PM
Anonymous said...: I love the place....can't wait to see the Gipsy Kings in August.
Cheap hotel deals, scantily clad young women, sports books, best boxing in the world...what's not to love!
That said, I'm always glad to leave after a few days.; July 13, 2007 3:36 PM
Anonymous said...: Vegas baby. What goes on market there stays on market there.; July 13, 2007 3:42 PM
Anonymous said...: I live in the corn belt, but one day the missus wants to see the bright lights so we head out to Las Vegas. The first thing that struck me was how dry it was,(I`ve never been to the desert, cut me some slack) and the other was how rude and disinterested the natives acted. I guess it gets tiresome with nonstop tourist coming through. I don`t know why anybody would want to live there on purpose. To each his own I guess.; July 13, 2007 3:44 PM
Anonymous said...: Well, You guys pretty much summed it up. Oy vey-gas is a freakin scum bag infested, kosher septic tank for all the worlds undesireables. I steer way clear of it.; July 13, 2007 3:44 PM
Anonymous said...: Do Portland Oregon next. The smug arrogance that "it's different in Portland" will make it even more fun to watch as the market tanks.; July 13, 2007 4:28 PM
Anonymous said...: Vegas is a shithole in the middle of an armpit. The only thing that makes it palatable is the rampant sex, gambling, and intoxication.

Plus I like the buffets...; July 13, 2007 4:30 PM
Anonymous said...: I lived in Las Vegas for 5 years. Overall no better, no worse than my time in Boston, Los Angeles ord Dallas. Good people, bad people everywhere. Pros and cons anywhere you live I don't care where that is.

Anyone like the 1st two posters who characterize a place like that - without ever having been there for #1 - is an uber douche. Energy burning? HUH? Like nobody burns energy in LA spending 2 hrs a day in traffic? You sir are truly an idiot.

As for housing, same old story there. Lots of inventory, prices flat. 12 months ago I was convinced the market would bein free fall by now. Today I'm not so sure. Houses are selling for what I sold my house for last summer in my old subdivision.

If I were to bet - yea yea I know -I think I'd put my money on not much of a price crash after all.

I was wrong, oh well.; July 13, 2007 4:51 PM
Anonymous said...: Well!?

Obviously neither of you are Oregonians? Uh... when "summer" is the all too brief period between the 4th of July (?) until rains return shortly after (or often during) Labor Day, SUN is a precious commodity!

Yes, they DO have sun elsewhere between March/June and end of August/October but Vegas is where people go to play. Many locals haven't been to "The Strip" in years or only go when guests come in from out of town. Even then... grudgingly.

I'm -not- a native Oregonian. But I've lived here for over 2 decades. At my age I would have to live beyond the avg. age and spend every minute OF IT in the desert just to "break even" on all the sunny days I've missed out on.

Is Vegas "cheesy"? Sure. No question. Then again I'm not in a place where I can be too picky now can I? I guess I'd rather be surrounded by young people partying than ultra-hip (and aging) boomers bragging about their 40' RV, Harley, endless retirement benefits and "place in Mexico" while hiding from the rain in Scottsdale or Palm Springs.

Cheesily yours,

DinOR; July 13, 2007 4:58 PM
Anonymous said...: Why do all the females there look like whores? Even the little grade school girls look like minature hookers.; July 13, 2007 5:05 PM
Frank R said...: That one isn't hard to figure out. The trash that lives there can't afford to rent a decent place, let alone buy. No wonder why the toxic loans went overboard there.

The difference between Las Vegas and other bubble cities is that in other cities, at least the interest-only sheeple actually believed they'd somehow make the payments once they adjusted (because everyone gets a 200% pay raise, duh.)

The deadbeats in Vegas probably had no intention of ever paying. They just enjoyed the free housing while they had it. Foreclosure is a slow process.; July 13, 2007 5:37 PM
Anonymous said...: What gets listed in Vegas, stays listed in Vegas!; July 13, 2007 5:49 PM
Anonymous said...: vegas is fun for a day or 2. Allow it has gotten more expensive to stay. Liberal douche bags when you were driving your gas guzzling suv on your way to a ski trip among your yupee friends. That's ok. Some how me sitting at apool in vegas for a day is less then you going to some road ski trip. The hotel you stay at sking have no electric or burning fireplace etc.; July 13, 2007 6:49 PM
Anonymous said...: Las Vegas is no place to live.; July 13, 2007 6:49 PM
Anonymous said...: Speculators using home equity from their SoCal primary residence caused the Vegas bubble. Some are moving to Vegas and bringing their socialist ideas.
I hope it all ends in a cleansing fire.; July 13, 2007 7:16 PM
Out at the peak said...: It's fun to explore vices in Vegas with my girlfriend, but I'm so glad to be home (in CA) afterwards. The air in Vegas is really bad, and I never feel safe walking on the strip at night.

I use to go every year, but now only every other year. I believe that my visits will become even less frequent.; July 13, 2007 7:33 PM
Joe said...: What about that guy at New York New York who starting shooting people? It was being reported that his house was being forclosed... LOL. Funny thing is the casinos didn't even shut down the slots, and people were still pumping nickels as bullets were whizzing by.

I also heard that since the housing crash there's been a huge surge in crime, especially in the southwest part of town. Gangs of thugs and floppers holding up old people at the 7-11. It's pure mayhem.

Speaking of which, anyone heard from that angry Vegas anonotroll?; July 13, 2007 8:27 PM
Anonymous said...: Where can I find this inventory data for other cities?; July 13, 2007 8:27 PM
Anonymous said...: Liberal douche bags when you were driving your gas guzzling suv on your way to a ski trip among your yupee friends

Wait, conservatives don't drive SUVs? what planet do you live on? check those "support our troops" and "god bless america" magnets. Do you think those come with an ACLU membership? LOL; July 13, 2007 9:29 PM
Anonymous said...: Why do all the females there look like whores? Even the little grade school girls look like minature hookers.

In Berlin during the 1920s hyperinflationary depression mothers used to doll up their preteen daughters and pimp them out for food and anything else.; July 13, 2007 10:41 PM
Anonymous said...: Oh, I'm gonna give it everything I've got
Lady Luck's with me, the dice stay hot
Got coke up my nose to dry
away the snot, so

Viva Las Vegas
Viva Las Vegas
Viva Las Vegas
Viva, viva Las Vegas

The Dead Kennedys; July 13, 2007 11:19 PM
blogger said...: Easy come easy go that's Vegas; July 13, 2007 11:26 PM
The_Scum said...: I like living in Vegas. I got a good job, I got money in the bank and no debt. It's not as hot as where I last lived. I like to gamble.

So, Vegas haters stay away from Vegas. Fine by me!; July 14, 2007 12:54 AM
Anonymous said...: Instead of bad mouthing Vegas

why dont you hammerheads put it to work for you? We know that the Calif Equity ATM has been turned off. That bodes ill for Vegas casinos big time. Vegas Casino stocks are at or near their all time highs. Take a look at MGM, Station Casinos, Boyds, etc. All ripe for put options. Earnings are coming due. Look for a big hit. Retail is down, so will be Vegas.; July 14, 2007 2:08 AM
Anonymous said...: Go ahead and knock it, and don't visit, either. That keeps all the natural beauty outside of town more quiet for me.
And it's true, us locals rarely go to the strip, and only when visitors come to town. The tourists pay our taxes, so they can have it!; July 14, 2007 2:23 AM
Anonymous said...: Ben Dover said...
Why do all the females there look like whores? Even the little grade school girls look like minature hookers.

July 13, 2007 4:05 PM

Hey Ben....you are a Grade A douche bag....; July 14, 2007 3:06 AM
Anonymous said...: Vegas is a fun place to visit. Only some lame crusty old farts hate it.; July 15, 2007 2:02 AM
Anonymous said...: OK, now I see this is actually a fact-free HATE blog, not an information exchange.

Nobody here actually knows anything about Vegas.

E.g., how many jobs will be created in Vegas in 2008?; July 16, 2007 9:49 PM