Comments on: It’s looking like a buyer’s market http://www.valleyblogs.com/lvbusinesspress/2006-07-25/id_1545 Las Vegas blogs operated by Stephens Media. Wed, 03 Dec 2008 20:35:33 +0000 http://wordpress.org/?v=2.6.1 By: Ted Newkirk http://www.valleyblogs.com/lvbusinesspress/2006-07-25/id_1545#comment-18239 Ted Newkirk Tue, 30 Nov 1999 00:00:00 +0000 http://www.valleyblogs.com/lvbusinesspress/2006-07-25/id_1545#comment-18239 <p>Despite the real estate brokers and Realtors(R) huge talk nationwide about how the market is fine, it isn't. Hot markets from Los Angeles to Florida got bought up at "gold rush" prices, and too many with homes purchased years ago (at the "years ago" mortgage payment) were jumping up and down, thinking they were rich.</p> <p>This is no different than any other rush into a "hot" way to make money (MLM's to hot stocks) with only those at the leading edge really cleaning up.</p> <p>At least this market correction (bubble all but popping) may be good for us here in Southern Nevada. I 100% believe in the free market. But unfortunately, the free market just about priced many of our prized service industry workers out of the ability to put a decent roof over their head.</p> <p>Of course, if that happened ... I imagine the culinary union would demand zillions in the next contract negotiation and the gaming properties would cave in like they did last time. So maybe we are losing sleep over nothing.</p> Despite the real estate brokers and Realtors(R) huge talk nationwide about how the market is fine, it isn’t. Hot markets from Los Angeles to Florida got bought up at “gold rush” prices, and too many with homes purchased years ago (at the “years ago” mortgage payment) were jumping up and down, thinking they were rich.

This is no different than any other rush into a “hot” way to make money (MLM’s to hot stocks) with only those at the leading edge really cleaning up.

At least this market correction (bubble all but popping) may be good for us here in Southern Nevada. I 100% believe in the free market. But unfortunately, the free market just about priced many of our prized service industry workers out of the ability to put a decent roof over their head.

Of course, if that happened … I imagine the culinary union would demand zillions in the next contract negotiation and the gaming properties would cave in like they did last time. So maybe we are losing sleep over nothing.

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