Any investor in Las Vegas area?

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Wondering if there are any investors here who have or thinking of investing in LV?

[hanera]

Property Market in Las Vegas

Elon Musk Has an Even Bigger Plan for the Las Vegas Strip How does this affect RE in LV?

Investing in Las Vegas

Anyone thinking of investing in Las Vegas? A quick check indicates that the prices are still pretty low, about 50% below the all time high in 2007. Too risky as it depends on tourisms? Downtown is not good. How about Summerlin and Henderson?

Las Vegas Home-Price Surge Spotlights Disconnect in U.S. Economy

https://www.bloomberg.com/news/articles/2020-09-16/las-vegas-homebuyers-are-bidding-up-prices-in-collapsing-economy The median price for a single-family house in August jumped almost 10% from a year earlier to $335,000, according to a report from the Las Vegas Realtors. By comparison, annual price growth in February, the month before Covid 19 emptied out casinos, hotels and restaurants, was 6.7%. Among large housing markets, Las Vegas is the riskiest by a wide margin, according to an analysis by CoreLogic Inc., which projects that by next July, prices will be down by 7.8%. So far, values have been pushed up by a shortage of supply, with available listings falling 40% in August from a year earlier.

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Did you end up expanding there?

[hanera]

No. IMHO, should only buy during recession because LV is a tourist area. During boom, prices are high. Only when tourists thin out, which should happen during recession, that prices would decline.

Btw, also didn’t add any more rentals in Austin for nearly two years. Rental yields are too low (in fact, rents keep declining). Better to buy Treasuries or S&P index fund.