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Topic: Las Vegas? Why on earth do people want to pay that kind of money?  (Read 1157 times)

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Offline Jack Morris

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Las Vegas? Why on earth do people want to pay that kind of money?
« on: October 31, 2005, 08:01:23 am »
http://news.yahoo.com/s/ap/20051030/ap_on_bi_ge/naked_city

I'm happy for that guy, but I have a question. Why do people want to move to a gambling oriented city? Cali I can understand, you have beaches, high tech jobs, many govt. military installations, and wine growing country (In case some of you do not know, wine is BIG business worldwide), and Cali has the 5th biggest economy WORLDWIDE. But a desert area with nothing but gambling casinos and radioactive wasteland from the atomic tests? Are there that many people that gamble or want to live in a light polluted city that is going UP in crime and NOT down?

I've never been and have no intention of doing so. I do know that a lot of it is due to Cali money flowing in, I guess the rich have nothing better to do than to snort cocaine and gamble. Can some of you that have been there explain this real estate soaring in the area to me and why?
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Offline Dash Jones

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Re: Las Vegas? Why on earth do people want to pay that kind of money?
« Reply #1 on: October 31, 2005, 09:29:29 am »
I know why, and it really is peeving off some people from those areas...whilst others are somewhat happy their real estate is going up.  Californians are moving to Nevada in droves...and with them used to buying and selling land at exhorbitant prices...well...they are upping the cost of land.  They are willing to pay more...but also sell at MUCH higher rates.  The first ones came in some time ago...bought plots for around 130,000 to 140,000 and tried to sell them for 250,000 right off the bat.  People laughed at them.

However, more Californians came and were for some ridiculous reason ready to pay higher prices.  So that screwed that...and then investors came in that wanted to invest in this land price increase...

It's great for those who owned houses there and buildings there already...stinks for those who are new and want to buy a house.  Land selling for two times what it's probably really worth...and some of those places with absolutely nothing really of use.

However not all of Nevada is really terrible.  A lot of the Californians seem to want to live in the Northern area bordering the California mountains.

The other reasons Californians move to that area of Nevada is that they are close enough to California to go shopping and even to work sometimes...but can avoid the high taxes of California.
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Offline Jack Morris

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Re: Las Vegas? Why on earth do people want to pay that kind of money?
« Reply #2 on: October 31, 2005, 01:59:02 pm »
Thanks Dash, now it makes more sense.

We had the influx of Cali people with our tech boom in the 90's, and lordy did real estate SKYROCKET. It sucked for us normal Austin folk, UNLESS you just happened to have some land they wanted. Most of the time though they just bought where noone else was, like our used-to-be beautiful Lake Travis. The name I gave it says it all now.  :(
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Offline Mackie

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Re: Las Vegas? Why on earth do people want to pay that kind of money?
« Reply #3 on: October 31, 2005, 04:02:54 pm »
Jack man, youre obsessed with teh market.  ;D
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Offline FRA.E.Kehakoul_XC

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Re: Las Vegas? Why on earth do people want to pay that kind of money?
« Reply #4 on: October 31, 2005, 04:12:24 pm »
In General its byond me how anyone  could want to live in a Ugly place like that, a town completly build upon stupidity and lack of ethics.
Is there a  average iq rating for  Lv available?
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Offline Jack Morris

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Re: Las Vegas? Why on earth do people want to pay that kind of money?
« Reply #5 on: October 31, 2005, 04:38:43 pm »
Mack, ya gotta be on top of things if you invest in the market. A good example was my 2k nap. I invested in Overstock.com. earlier this year and was waiting for earnings call that day (after market release). I fell asleep and within 30 minutes I had gone from a healthy profit to a 2k loss when I woke up and DUMPED the shares.

It's not that hard to make some money on the markets if you stay on top of things, but get lazy or stupid (like taking a nap on earnings call) and it's far too easy to lose your money too.
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Offline E_Look

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Re: Las Vegas? Why on earth do people want to pay that kind of money?
« Reply #6 on: November 01, 2005, 01:12:54 pm »
Quote from: FRA.E.Kehakoul_XC on October 31, 2005, 04:12:24 pm
In General its byond me how anyone  could want to live in a Ugly place like that, a town completly build upon stupidity and lack of ethics.
Is there a  average iq rating for  Lv available?

It's not IQ; it's more like moral quotient.  I would feel guilty if I made a living off others' gambling.  But I guess, working in the bars and restaurants may be okay- people anywhere do have to eat and have a drink.
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Offline FRA.E.Kehakoul_XC

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Re: Las Vegas? Why on earth do people want to pay that kind of money?
« Reply #7 on: November 01, 2005, 09:38:28 pm »
Agreed  E_look.
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Offline Soreyes

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Re: Las Vegas? Why on earth do people want to pay that kind of money?
« Reply #8 on: November 02, 2005, 02:35:07 am »
What I find just absolutely amazing is that Las Vegas is still in a Drought situation. Lake Mead is now at it's lowest point ever. I believe the area is going to find out that they just don't have enough water.
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Offline Jack Morris

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Re: Las Vegas? Why on earth do people want to pay that kind of money?
« Reply #9 on: November 02, 2005, 11:26:25 am »
They will learn amigo, or more likely they will invest their wealth in building a pipeline from a new source of water. Las Vegas would cease to be a boomtown if we had desalinization plants and piped in water to our desert areas and terraformed. Don't tell me it cannot be done, I did it on a small scale in Mexico and the house I lived in had the most vibrant and beautiful roses in just about all of Chihuahua.
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