DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - US house prices in free-fall

**sciectotacype17** · 03-25-2008, 05:27 PM

Originally posted by Kidicious
Actually that is amazing about Las Vagas. Seems like a panic. There must have been a lot of speculation there. Las Vegas had a lot of people buying vacation homes as well as houses which people bought to rent out. The price of homes in Vegas was a fraction of the price in California so a lot of California's bought new properties there thinking they could rent them out until prices went up and then flip the houses for a nice capital gain. Big problem? Prices went down and now people are dumping the investment properties and vacation homes.

03-25-2008, 05:27 PM	#3
sciectotacype17 Join Date Nov 2005 Posts 385 Senior Member	Originally posted by Kidicious Actually that is amazing about Las Vagas. Seems like a panic. There must have been a lot of speculation there. Las Vegas had a lot of people buying vacation homes as well as houses which people bought to rent out. The price of homes in Vegas was a fraction of the price in California so a lot of California's bought new properties there thinking they could rent them out until prices went up and then flip the houses for a nice capital gain. Big problem? Prices went down and now people are dumping the investment properties and vacation homes.
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