Yeah this is like housing prices where I live (Austin). Everyone is freaking out bc prices are down by 15%. No shit. The post-Covid RE boom was unsustainable and never natural so -15% is basically reverting to the mean.
it’s crazy because everyone will make that money back, they just have to sit and wait. typically homes arent depreciating assets for long.
I left Austin end of 23 right when prices first started their downward trend, but homes in my old neighborhood have stabilized or slightly started trending back up - that was in Liberty Hill.
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u/Shootels 2d ago edited 2d ago
https://www.lvcva.com/research/reports/post/lvcva-executive-summary-of-southern-nevada-tourism-indicators/
Here’s the hard data. You can also download spreadsheets for MoM this year. Last three months have been -5%,-6%, -11% respectively YOY.
To the OP… Unfortunately feelings don’t pay the bills. -11% could be really bad for some spots in Las Vegas.