evicted, with finality
9mm in lieu
Quote: MrVSome of the landlords in Las Vegas don't screw around when it comes to skating on late rent.
9mm in lieu
No excuse for any violence….but if you catch someone at their wits end trying to collect rent due, you don’t know if they may snap.
My guess is this is a guy with no criminal history…and he simply let anger overcome him and he basically snapped.
Quote: MrVSome of the landlords in Las Vegas don't screw around when it comes to skating on late rent.
9mm in lieu
I say anything goes now that the rent moratorium is over.
Quote: AlanMendelsonIt's going to get worse. Las Vegas still has the highest unemployment rate of any metro area in the country. This town is hurting.
I disagree. This town seems to be flourishing. The gaming numbers in the locals casinos and taverns are as high as they have ever been.
Quote: DRichI disagree. This town seems to be flourishing. The gaming numbers in the locals casinos and taverns are as high as they have ever been.
I've been looking at the Vegas numbers and they are all over the place. You obviously see different numbers than I do. I'm looking at housing and real estate and have no idea what the next year will bring.
Quote: billryanI've been looking at the Vegas numbers and they are all over the place. You obviously see different numbers than I do. I'm looking at housing and real estate and have no idea what the next year will bring.
Housing and real estate is definitely booming in Las Vegas. Obviously I am watching those numbers closely as I am getting ready to put my house on the market. It is obviously ridiculous the way the prices are going up. Most people expect them to plunge back down but who knows? People said the same thing in California in the 1980's and the prices are still going up there. It makes no sense to me but I hope it continues climbing as I get ready to put my house on the market.
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Rent in Clark county is on the rise. Median home price is now ~$405,000. Rents are up almost 19%.
https://lasvegassun.com/news/2021/aug/10/as-rents-soar-in-las-vegas-tenants-feel-pressure/
My rent increased about ~5%, after no increase last year. Demand is high and availability is low. My complex (400+ units) always had 10+ units available for years. Currently there is one available.
Quote: KeeneoneShootings and death over rent is tragic.
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Rent in Clark county is on the rise. Median home price is now ~$405,000. Rents are up almost 19%.
https://lasvegassun.com/news/2021/aug/10/as-rents-soar-in-las-vegas-tenants-feel-pressure/
My rent increased about ~5%, after no increase last year. Demand is high and availability is low. My complex (400+ units) always had 10+ units available for years. Currently there is one available.
How many are current on their rent? That is the wild card. In my county, something like 97% of the people who applied for emergency rent grants have either been turned down or the application was ruled as being incomplete. It seems like many counties and states are sitting on these funds, hoping to use them elsewhere.
to me, one of the saddest sights in the world is to see some family's furniture sitting out on the lawn near the street because they were evicted
and yes, I know sometimes it is their own fault that got them into that situation_____________still - it gets to me
.
Quote: mcallister3200Housing prices being jacked makes sense imo. Bunch of money printed; limited new supply over last two years, eviction moratorium also constricts supply. I don’t know that I’d expect things to go down they generally just don’t but would sort of expect them to flatten out for a little while.
People are moving into the state in large numbers. The Californians!
https://grow.acorns.com/nevada-cost-of-living/
https://www.8newsnow.com/news/local-news/las-vegas-ranked-number-1-moving-destination/
Cash is king when buying right now:
https://thenevadaindependent.com/article/rise-of-cash-buyers-across-nevadas-housing-market-leaves-conventional-homebuyers-locked-out
Quote: AlanMendelsonThe rich dont see the problem. The problem in Vegas is real. This town is ready to explode. Stay away.
Alan, what problems do you see in Las Vegas that are about to explode that are not common in other cities of the same size? I am not trying to be argumentative, just curious.
Quote: lilredrooster_____________
to me, one of the saddest sights in the world is to see some family's furniture sitting out on the lawn near the street because they were evicted
.
My landlord friend says that very seldom happens to him because the tenants are usually long gone by the time he has to call the sheriff's department to throw them out bodily. I remember after 2008 in Las Vegas for a couple years they were having real problems with people moving into bank foreclosed properties and squatting there forever. People would get the electric turned on and pay the bill with their name on it and it took the bank forever to get rid of them. And by that time they were already set up in another house. There's a YouTube video of a couple who did this for 6 years in Las Vegas, just moved from one house to another and never paid any rent. Sometimes it would take a bank months before they even noticed somebody was living in one of their properties.
Quote: KeeneonePeople are moving into the state in large numbers. The Californians!
https://grow.acorns.com/nevada-cost-of-living/
https://www.8newsnow.com/news/local-news/las-vegas-ranked-number-1-moving-destination/
Cash is king when buying right now:
https://thenevadaindependent.com/article/rise-of-cash-buyers-across-nevadas-housing-market-leaves-conventional-homebuyers-locked-out
It seems like it’s even easier to blame everything on Californians than it is millennials. Now those California millennials...
Quote: KeeneonePeople are moving into the state in large numbers. The Californians!
https://grow.acorns.com/nevada-cost-of-living/
https://www.8newsnow.com/news/local-news/las-vegas-ranked-number-1-moving-destination/
Cash is king when buying right now:
https://thenevadaindependent.com/article/rise-of-cash-buyers-across-nevadas-housing-market-leaves-conventional-homebuyers-locked-out
I would love to find one of those cash buyers on the first day it hits the market. I dread the idea of having people coming in and touring my house for weeks.
Quote: DRichI would love to find one of those cash buyers on the first day it hits the market. I dread the idea of having people coming in and touring my house for weeks.
I think you will do fine with the sale of your home. :)
You might want to brush up on your insurance game for the move to FL.
https://www.floodsmart.gov/
https://www.nerdwallet.com/article/insurance/hurricane-insurance
Quote: DRichAlan, what problems do you see in Las Vegas that are about to explode that are not common in other cities of the same size? I am not trying to be argumentative, just curious.
This city has a higher unemployment rate. Poverty rate is near 20%
Casinos dont pay sh**
From the web: The poverty rate in Las Vegas is 16.2%. One out of every 6.2 residents of Las Vegas lives in poverty. How many people in Las Vegas, Nevada live in poverty? 98,981 of 612,867 Las Vegas residents reported income levels below the poverty line in the last year.
Quote: AlanMendelsonThis city has a higher unemployment rate. Poverty rate is near 20%
Casinos dont pay sh**
Too me a higher unemployment rate doesn't mean much when there are thousands of jobs available. I also think most casino jobs offer a fair income for mainly unskilled workers. Sadly, I know quite a few people that aren't going back to work until their federal unemployment supplement runs out.
Quote: DRichToo me a higher unemployment rate doesn't mean much when there are thousands of jobs available. I also think most casino jobs offer a fair income for mainly unskilled workers. Sadly, I know quite a few people that aren't going back to work until their federal unemployment supplement runs out.
There are not thousands of jobs available in Vegas.
Read this:
The poverty rate in Las Vegas is 16.2%. One out of every 6.2 residents of Las Vegas lives in poverty. How many people in Las Vegas, Nevada live in poverty? 98,981 of 612,867 Las Vegas residents reported income levels below the poverty line in the last year.
Quote: AlanMendelsonThere are not thousands of jobs available in Vegas.
Yes there are. I went to one job seekers site "Indeed" and they listed 35,000 jobs available within 25 miles of Las Vegas. That is just one site. I would also assume most Mom and Pop stores are not advertising on Indeed.
Quote: DRichYes there are. I went to one job seekers site "Indeed" and they listed 35,000 jobs available within 25 miles of Las Vegas. That is just one site. I would also assume most Mom and Pop stores are not advertising on Indeed.
But people are not getting hired.
The jobs dont match the available workforce.
Quote: AlanMendelsonBut people are not getting hired.
The jobs dont match the available workforce.
Okay, so we can agree that there are thousands of jobs available in Las Vegas. Hopefully the unemployed are spending 12 hours a day brushing up their education or skills to qualify for the jobs that are available. I was unemployed for just over a year during the pandemic and I was working on new skills most every day.
People will be stealing to eat.
Quote: AlanMendelsonIt gets worse in September when unemployment benefits go away.
People will be stealing to eat.
Hopefully others will then decide to get a job.
Quote: AlanMendelsonIt gets worse in September when unemployment benefits go away.
People will be stealing to eat.
Some do now. People will be taking the jobs available when the money being paid not to work ends. It’s a really simple concept, Alan. And it is certainly not unique to Las Vegas.
Quote: billryanIt may have changed but lot of people used to be ineligible to work in casinos due to stupid minor criminal offenses in their youth.
I think that has changed. I have a friend that works in the casino business and he has a felony on his record. I think the main thing they are trying to avoid is anyone with theft of money or embezzlement on their record. Even then they will make exceptions if the employee is will to fight it.
The casinos that have reopened are trying to operate with fewer workers than before.
Quote: AlanMendelsonYou guys are forgetting how many laid off casino workers are waiting to get their jobs back.
The casinos that have reopened are trying to operate with fewer workers than before.
I am not forgetting that. I just think people need to take whatever job they can get until they can get the one that they want. I am sure flipping burgers of shaving roast beef at Arby's is a terrible job, but take it until you can improve it.
I would also not be surprised if Amazon is hiring as many people in Las Vegas as are out of work from the casinos. I think I read that they are currently building their tenth building in Las Vegas.
Quote: AlanMendelsonThere are not thousands of jobs available in Vegas.
Read this:
The poverty rate in Las Vegas is 16.2%. One out of every 6.2 residents of Las Vegas lives in poverty. How many people in Las Vegas, Nevada live in poverty? 98,981 of 612,867 Las Vegas residents reported income levels below the poverty line in the last year.
I just read an article (posted here I think) that it’s becoming difficult to purchase a house in Vegas without a cash offer.
What gives?
Quote: gamerfreakI just read an article (posted here I think) that it’s becoming difficult to purchase a house in Vegas without a cash offer.
What gives?
Very true. There is just so much competition to buy houses now that cash offers will get priority because they close quicker. A friend of mines son is trying to buy what I would call a traditional starter house. 3 bedroom 2 bath 1500 sq feet. He has offered full asking price on six houses so far and hasn't even got a sniff. On the beginner houses demand is so high that people are offering quite a bit over asking price.
I am concerned that I will have a difficult time buying a house in Florida because I won't have a cash offer right away. I still have to sell my house to have the funds to buy one. With that I may have to put a contingency on my offer that I will buy their house after mine sells. Obviously if there is a cash offer I have no chance.
Quote: gamerfreakI just read an article (posted here I think) that it’s becoming difficult to purchase a house in Vegas without a cash offer.
What gives?
It's the state of the economy. You have a few rich and 16% in poverty and the middle class earns about $35,000 a year.
The few rich that are buying all the properties are causing real estate inflation that will lead to more homelessness.
(Do I sound like a 50 year union member?)
Quote: AlanMendelsonIt's the state of the economy. You have a few rich and 16% in poverty and the middle class earns about $35,000 a year.
The few rich that are buying all the properties are causing real estate inflation that will lead to more homelessness.
(Do I sound like a 50 year union member?)
A few rich are not buying up all the the starter houses around Vegas.
Quote: DRichVery true. There is just so much competition to buy houses now that cash offers will get priority because they close quicker. A friend of mines son is trying to buy what I would call a traditional starter house. 3 bedroom 2 bath 1500 sq feet. He has offered full asking price on six houses so far and hasn't even got a sniff. On the beginner houses demand is so high that people are offering quite a bit over asking price.
I am concerned that I will have a difficult time buying a house in Florida because I won't have a cash offer right away. I still have to sell my house to have the funds to buy one. With that I may have to put a contingency on my offer that I will buy their house after mine sells. Obviously if there is a cash offer I have no chance.
I have also been looking in Florida. No problem at all as long as you have a mortgage pre approval letter. Your problem is that you are trying to buy on a contingent basis. To me, that is like telling the owner of the Florida house you are trying to buy that HE needs to wait for you to be able to buy the house. Only way he would agree to that is if there are no other potential buyers.
There have been houses that they would not even show us without a mortgage pre-approval letter.
Quote: unJonA few rich are not buying up all the the starter houses around Vegas.
Read this article then tell me what's a starter home for a community where income is around $35,000 a year
https://thenevadaindependent.com/article/rise-of-cash-buyers-across-nevadas-housing-market-leaves-conventional-homebuyers-locked-out
Quote: AlanMendelsonRead this article then tell me what's a starter home for a community where income is around $35,000 a year
https://thenevadaindependent.com/article/rise-of-cash-buyers-across-nevadas-housing-market-leaves-conventional-homebuyers-locked-out
If you are making $35k a year you are renting, not buying a starter home. Do you think everyone is entitled to own a home?
Quote: SOOPOOIf you are making $35k a year you are renting, not buying a starter home. Do you think everyone is entitled to own a home?
Wow, that is exactly what I was going to say.
Quote: SOOPOOIf you are making $35k a year you are renting, not buying a starter home. Do you think everyone is entitled to own a home?
Ask unjon. I was responding to his post.
Quote: AlanMendelsonAsk unjon. I was responding to his post.
Ask me what? You said there were a small number of rich people buying all the houses. That’s not sensical. The people buying the houses are living in them. There a more than a small number of houses. It’s simple math to understand that it’s not a small number of people buying multiple houses.
Quote: SOOPOOI have also been looking in Florida. No problem at all as long as you have a mortgage pre approval letter. Your problem is that you are trying to buy on a contingent basis. To me, that is like telling the owner of the Florida house you are trying to buy that HE needs to wait for you to be able to buy the house. Only way he would agree to that is if there are no other potential buyers.
There have been houses that they would not even show us without a mortgage pre-approval letter.
I agree with you, I do not want to buy on a contingent basis. I also do not want to sell my current house and move out prior to having a house to move into. In normal times contingent offers are the normal, but not in this market.
I am exploring every possible option to not have to move twice.
Quote: DRichI agree with you, I do not want to buy on a contingent basis. I also do not want to sell my current house and move out prior to having a house to move into. In normal times contingent offers are the normal, but not in this market.
I am exploring every possible option to not have to move twice.
Do you have the means to make the down payment on the new house before the old one sells? Carry two mortgages in a pinch for a couple months? If so just go non contingent and take the possible downside of a few months with lower savings and double interest expense. I’m this market your house will almost surely sell quickly unless there’s something really wrong with it.
Quote: DRich
I am exploring every possible option to not have to move twice.
Doesn't seem like a big deal. Wouldn't you likely be already living in the city you're moving to? Just move across town.
Quote: unJonDo you have the means to make the down payment on the new house before the old one sells? Carry two mortgages in a pinch for a couple months? If so just go non contingent and take the possible downside of a few months with lower savings and double interest expense. I’m this market your house will almost surely sell quickly unless there’s something really wrong with it.
Sadly, I do not have enough income for two mortgages with a big enough down payment to remove the PMI insurance. The PMI will add over $250 a month which makes the accumulative payment for the two mortgages more than I will qualify for.
Ironically, when I sell my current home I will have almost enough equity to pay off the new house.
sell and get a month to month lease in a furnished place?Quote: DRichSadly, I do not have enough income for two mortgages with a big enough down payment to remove the PMI insurance. The PMI will add over $250 a month which makes the accumulative payment for the two mortgages more than I will qualify for.
Quote: unJonsell and get a month to month lease in a furnished place?
It is not that easy as we have two large dogs that need a yard to run in and I hate the idea of moving twice. I hope it doesn't come to that.
Quote: unJonAsk me what? You said there were a small number of rich people buying all the houses. That’s not sensical. The people buying the houses are living in them. There a more than a small number of houses. It’s simple math to understand that it’s not a small number of people buying multiple houses.
A lot of houses are being sold to investors that are not living in them. They are looking for rental income and hoping the market will pop another 25%. Is it the majority of homes sold? No, but it is a significant minority and it's driving up the cost of housing.
