Real estate investing in Las Vegas…?
I’ve been been told that Las Vegas is the fastest growing city in the country, so it’s a great place to invest in real estate. However, I see a lot of vacant homes in Vegas, and lots of lots of new tracts of homes being built with few if any buyers, signaling that the area is getting overbuilt. I’m also seeing that Vegas has very low wages, and that the economy is heavily dependent on entertainment and tourism, which will undoubtedly diminish with the coming recession–could someone convince me that Las Vegas is a good bet for real estate investment?
One Response
godged
17 Dec 2009
I can’t.
Vegas was the fastest growing city in the US, but when I was there last fall, I didn’t see anything that indicated that trend was continuing into 2008.
If you are in a position to speculate and hang on to properties for a few years, Vegas might be a good option. When the economy recovers, you can start selling your investments.