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Las Vegas land prices are rising at a "downright scary" pace, according to a new report from...

Las Vegas land prices are rising at a "downright scary" pace, according to a new report from Home Builders Research. Land purchased for about $180K/acre late last year is going for $250K-$275K now, with a few parcels in escrow for $350K. The economy remains too weak "to sustain this level of increases," says the report. Let the Fed worry about that.
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Comments (11)
  • davidingeorgia
    , contributor
    Comments (2713) | Send Message
     
    Maybe the Fed will start buying up land in markets that are overheating again. They're buying up pretty much everything else not nailed down.

     

    Bubble? What bubble?
    22 Mar 2013, 07:53 AM Reply Like
  • bbro
    , contributor
    Comments (9835) | Send Message
     
    Always the Fed's fault....another simplistic analysis.. need
    more data about the Las Vegas market to make that leap

     

    In March 2006..they had building permits of 5353 (for one month) now that is truly
    insane....what are talking about 500 to 600 a month in this article...

     

    In January 2004 the number pf building permits for Las Vegas was 2607
    22 Mar 2013, 07:58 AM Reply Like
  • bbro
    , contributor
    Comments (9835) | Send Message
     
    Total nonfarm employment for Las Vegas is 836,000...it has grown
    38,000 over the last 28 months,,,or an average of 1360 a month for the
    last 16 months....

     

    In January 2004 Las Vegas had 2607 building permits and 788,000 total nonfarm employees....2607/788000 = .33%... today(January 2013) Las Vegas has
    627 building permits and 836,000 total nonfarm payroll 627/836,000 =
    .08%
    22 Mar 2013, 08:24 AM Reply Like
  • bbro
    , contributor
    Comments (9835) | Send Message
     
    Check the year over year change in the number of building permits for the month of June to also help get a read on Las Vegas...that seems to be a peak month for the year. June 2012 Las Vegas Building Permits were 996.
    22 Mar 2013, 08:44 AM Reply Like
  • bbro
    , contributor
    Comments (9835) | Send Message
     
    Correction...an average of 1360 a month for the last 28 months
    22 Mar 2013, 08:59 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (8661) | Send Message
     
    Vegas land price overheating is DIRECTLY related to the Fed pumping nearly half a TRILLION new dollars into the U.S. financial system each year.

     

    It is obviously misguided and it WON'T END WELL!

     

    You've been warned.

     

    Buy gold.
    22 Mar 2013, 08:37 AM Reply Like
  • idkmybffjill
    , contributor
    Comments (1687) | Send Message
     
    I hope this is sarcasm....why is it only Vegas if it's because of the Fed?

     

    For someone who is such a Buffett/value investor aficionado, you are surprisingly a huge gold promoter lol
    22 Mar 2013, 08:47 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (8661) | Send Message
     
    1. No it isn't sarcasm.

     

    2. Where did I write that "it is only in Vegas?"

     

    3. I don't "promote" gold. I "promote" the idea that everyone should understand the historical relationship between precious metals, money creation and inflation.

     

    If you wish to ignore the long term effects of out of control money printing by the global central banks and the destruction of purchasing power then that is your business. Some of us, however, enjoy the idea of protecting what we've earned.

     

    4. Are you suggesting that one can't buy and store precious metals AND invest in public companies that offer real value and earnings power?

     

    If so then that is just silly.
    25 Mar 2013, 08:07 AM Reply Like
  • idkmybffjill
    , contributor
    Comments (1687) | Send Message
     
    No, I'm suggesting that maybe you shouldn't be such a big cheerleader for so many big-time investors, when on the other side of the coin, you endorse buying assets which they frown on.
    25 Mar 2013, 10:43 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (8661) | Send Message
     
    I don't know how you invest but I DON'T invest by waiting for what some billionaire or multi-millionaire claims to like then climb aboard the bandwagon.

     

    I like to do my own research and think for myself.

     

    If what I like is also what some respected, well known investor likes then great but I couldn't care less what they do as they couldn't care less what I do.

     

    A lot of "experts" talked openly of an impending BAC bankruptcy around Christmas 2011 (like Christopher Whalen, for example).

     

    Or going back a year or so from then a lot of "experts" talked about how the end of "Cash for Clunkers" would bury many auto part manufacturers.

     

    If I had listened to these "experts" I would have missed out on two very big opportunities.

     

    Make your own decisions.
    25 Mar 2013, 02:52 PM Reply Like
  • Tack
    , contributor
    Comments (13554) | Send Message
     
    Las Vegas, 2008's greatest victim, is just now coming late to a party that's already rolled through FL, AZ and CA. Hardly a surprise.
    22 Mar 2013, 11:39 AM Reply Like
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