Wagering On Vegas
Thinking about buying a golf home in Las Vegas while prices are low? Probably not a bad strategy.
Now the question is, when? Most agree that trying to time the precise market bottom is a fool's game. But some argue that prices have farther to fall. Here's an article from today's Las Vegas Sun predicting more declines through this year with stabilization at last arriving in 2010.
The Sun quotes Moody's Economy.com as projecting the median price of Las Vegas home will hit $153,000 by 2010. That's a drop of 52 percent from its peak of $320,000 in 2006's first quarter. [Insert your own joke about the craps table here.]