April 11, 2008
Folks, here's what an epic, historic and devastating housing crash looks like. Welcome to Las Vegas Nevada, where gamblers come to get slaughtered
The median price in Vegas has now fallen $62,000 in just the past 12 months - that's over $5,000 a month, or $170 a day. Ouch. You'd have to get killed at the craps tables to lose so much so fast. Or trust a realtor on commission of course. And remember, knife catchers, we're just getting started...
Thanks Doom for the graph and info.
And one more time, this one is just too good:
"Home prices are still going up in Las Vegas. That flies in the face of bubble theorists. There never was a bubble in Las Vegas, and there isn't one in the future."
- Larry Murphy, president of real estate monitoring firm SalesTraq, July 2006