Quote:
Originally posted by motion
I think you're wrong, Tabs. It happens every 10 years or so... prices get too high in California, people move to more affordable areas. Last time it was Seattle. They wait for the prices to deflate, then they come back to California and purchase at normal prices, decimating the housing market that they're leaving. Hate to say it, but I predict that Vegas will be another Houston in about 4-5 years.
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Took the family to Mandalay Bay 2 weeks ago for some pool time and fun. It's been 12+ years since I've been there and was amazed to see the changes. Like Tabs indicates there is a ton of development going on in the area. Personally I don't forsee many relocating from Cali and being happy unless they're really into gaming and drinking. Honestly it's a very bleak and desolate region and the day time temp's really limit what you can do. Once money gets more expensive LV is going to look a lot less attractive to home buyers. Unless you're a homeowner with less than 20% equity and/or even worse holding an ARM, I'd never recommend people sell their Cali home to relocate out of state.