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Old 10-12-2022, 02:00 PM
 
Location: Las Vegas, NV
327 posts, read 446,350 times
Reputation: 445

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What renters in Southern Nevada can expect with a cooling housing market
8 News NOW Las Vegas | Oct 11, 2022

Southern Nevada rental market forecast

https://www.youtube.com/watch?v=hvZ6f8cHOsA
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Old 10-12-2022, 02:11 PM
 
Location: Southern Highlands
2,413 posts, read 2,029,998 times
Reputation: 2236
It is hard to see how high interest rates and high inflation can lead to generally lower prices. There may be a shift from more expensive to less expensive housing as people try to save money.
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Old 10-15-2022, 01:53 PM
 
Location: Las Vegas, NV
327 posts, read 446,350 times
Reputation: 445
Default Another article re apt rent

NVSAA Report Shows Las Vegas Apartment Rents Starting to Decline
October 14, 2022
https://www.nevadabusiness.com/2022/...ng-to-decline/
Quote:
LAS VEGAS – A report released this week by the Nevada State Apartment Association (NVSAA) shows apartment rents in Southern Nevada declining during the past quarter while vacancy rates are rising from the all-time low set last year.
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Old 10-16-2022, 10:06 AM
 
Location: Southern Highlands
2,413 posts, read 2,029,998 times
Reputation: 2236
Quote:
Asking rents during the third quarter averaged $1,451 per month. That’s down from $1,480 during the second quarter.
This is consistent with renters moving from more expensive to less expensive units. If you read a bit further:
Quote:
... up from $1,403 one year earlier.
But also vacancy rates are up, new construction is down, and landlord expenses are up.Also,
Quote:
Las Vegas continues to attract new residents...
Simultaneous changes in both supply and demand make it impossible to predict where the supply and demand curves intersect.
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Old 10-17-2022, 12:14 AM
 
Location: Las Vegas, NV
327 posts, read 446,350 times
Reputation: 445
Default Abuse of power is right

We've never missed a rent payment, or given them any trouble at all, yet the LL/PM feels free to treat us like crap. Personal problem? You bet.

https://www.propublica.org/article/y...-realpage-rent

Quote:
On a summer day last year, a group of real estate tech executives gathered at a conference hall in Nashville to boast about one of their company’s signature products: software that uses a mysterious algorithm to help landlords push the highest possible rents on tenants.

“Never before have we seen these numbers,” said Jay Parsons, a vice president of RealPage, as convention goers wandered by. Apartment rents had recently shot up by as much as 14.5%, he said in a video touting the company’s services. Turning to his colleague, Parsons asked: What role had the software played?

“I think it’s driving it, quite honestly,” answered Andrew Bowen, another RealPage executive. “As a property manager, very few of us would be willing to actually raise rents double digits within a single month by doing it manually.”
I've always considered their POV, however at this point I'm feeling pretty hostile. I'm taking up the LLs attitude. I don't care what your problems are. I've fulfilled my part of the contract.

Last edited by Tarara Boomdea; 10-17-2022 at 01:35 AM..
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Old 10-17-2022, 07:55 AM
 
555 posts, read 775,387 times
Reputation: 579
Housing prices were hyperinflated the past two years - seems logical for housing costs to level out. Vegas is still a desirable destination and housing supply can be strengthened at each price sector. As far as inflation - I don't think anyone knows what's going on. Upper middle class and above continue to have an almost unquenchable demand for goods/services. Talk to anyone in the residential labor trades, high end retail, restaurant, luxury auto dealers etc...
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Old 10-20-2022, 03:54 PM
 
Location: Las Vegas, NV
327 posts, read 446,350 times
Reputation: 445
Default 5000 Rental Homes Coming Las Vegas Rents Crack

5000 Rental Homes Coming Las Vegas Rents Crack | Rents Drop | Oct 20, 2022 | Steve Hawks

https://www.youtube.com/watch?v=et7B1gmVprw

Quote from video description (not my words or spacing.)

5000 Homes To Hit the Las Vegas rental market!

For the last decade Las Vegas rents have been going up up up.

The last 2 years more than last 10!

The FED has had enough! Rents are coming down at all cost no matter the pain it causes including massive layoffs.

We have about 10,000 homes on the market right now and about 30% of them will not get their price, sellers will put them back into the rental pool

Then you have approximately 2000 hedge fund homes that are not rented yet they're going to be thrown into the mix

Don't forget hedge funds bought over 18,000 in 18 months in Vegas

Sellers turned landlords are about to get a rude awakening, the high rents and lines of people to rent their houses are gone.

Raul just leased an Inspirada home way below list rent and was available for rent over 50 days! Unthinkable 90 days ago

This is just the beginning even the CEO from one of the largest hedge funds has noticed a change in the tide.

Just a few months ago Raul and myself were just talking how if you didn't have at least 650 scores, Raul wouldn't even take you out because landlords were accepting anything under 650

Those days are over as landlords change their tune.

The Fed is now going to crush landlords like they are doing to new home builders and homeowners

An Epic Battle is Brewing FED vs Wall Street Landlords

The fed wants a housing reset in prices and RENTS

We are seeing the prices crash will we see a rental crash too?

We are seeing early signs but still too early to predict the rental crash.

But definitely cracks and rents are dropping.

The fed has jammed up credit card rates which increases credit card payments, less money for people to pay for rent.

The cost of living is skyrocketing, food, cars, insurance is driving people to offer less for rent out of necessity.

The free money days are gone and the rents are on the way down

Multiple applicants are now over

Mandatory 650 credit scores gone

Criminal background checks being waved or accepted

Raul just got a 590 approved! 90 days ago not a chance!

Sellers may be getting a $1000 a month surplus on their rent over payment but the home losing 5k 10k 30k plus a month

12k cash for 60k to 100k drop in in value in 12 months 12 months or a $700000 house losing $200000 12 months.

Listen folks we are not telling you the rents and prices are going down.

The prices are crashing right now and the fed said more pain is coming

The fed told you they're resetting housing and they are correcting it.

Powell said more pain is coming this means rents are going to fall the fed's telling you this, not us!

Prepare and get ready the Fed is about to get down!
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Old 10-20-2022, 05:47 PM
 
Location: Las Vegas, NV
327 posts, read 446,350 times
Reputation: 445
Default Las Vegas apartment rents now sliding

After soaring last year, Las Vegas apartment rents now sliding | October 17, 2022

https://web.archive.org/web/20221018...iding-2659516/

Quote:
Southern Nevada apartment rents dipped in recent months as vacancies climbed, a new report shows, in more signs of Las Vegas’ slowing housing market.
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Old 10-20-2022, 06:58 PM
 
Location: Phoenix Area
110 posts, read 118,672 times
Reputation: 112
Apartment rents might be dropping, but they are never gonna be "cheap" like they were. For example, long gone are the days of a nice 1bd apartment for $1200. Or a 3bd/2ba rental home for $1500.
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Old 10-21-2022, 08:58 AM
 
2,469 posts, read 3,262,644 times
Reputation: 2913
Quote:
Originally Posted by lvnyc View Post
We've never missed a rent payment, or given them any trouble at all, yet the LL/PM feels free to treat us like crap. Personal problem? You bet.

https://www.propublica.org/article/y...-realpage-rent



I've always considered their POV, however at this point I'm feeling pretty hostile. I'm taking up the LLs attitude. I don't care what your problems are. I've fulfilled my part of the contract.



Treat you like crap for what reason?
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