patrick.net

I heard cannibal anarchy is going to begin from LV. :)

If all that inventory out there never gets sold off and converted to rentals also.

Anyway, I heard rents there are pushing down to the $800-900/mo range in several areas for 3bd/1ba homes.

Like this:

http://lasvegas.craigslist.org/apa/2863853997.html

or this:

http://lasvegas.craigslist.org/apa/2906575870.html

$950 for a 1400 sq ft house which can easily sell for 1 million in CA !

I will rent 10 of them and rent out !

xenogear3 says

I will rent 10 of them and rent out !

To whom?

LASVEGASWINNER says

There are 157 HUD Properties selling below $90,000 that can rent for $1000 a month, giving the investor 13% to 15% ROI if you get 10% down investor financing thru HUD.

Larry Roberts who runs OC housing (formerly Irvine housing) blog has started an investment fund focused on these kinds of deals in Las Vegas.

Tons of rentals on the market not renting and many now offering rental specials because they have been sitting vacant for months..Too many dumb investor sheep doing the same thing.