Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: RodgerRafter who wrote (26326)	3/25/2005 2:35:31 PM
From: regli	Read Replies (2) of 116555

I see the same thing in Las Vegas. I just got the "new homes guide" that came with the local paper and it is simply amazing to observe the amount of development going on. Still! I should know better but it still floors me to see how big some of these houses are, many bigger than 3,000 sq. ft. but essentially no land. The cost to keep these mansions cool during late spring to early fall is going to be huge with continually higher energy prices. How Las Vegas will be able to sustain housing prices in excess of $500,000 is simply beyond me. Having observed the Houston boom and crash, I cannot help but expect the same thing to happen here. However, as Vegas doesn't have the broader economic support of Houston, I would not be surprised to see the “90% off” deal you describe.

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