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Nesgroup address: misc.invest.real-estate - Date & Time for the message: Mon, 21 Feb 2005 06:57:37 +0000 /

Author of the message: Biwah

Title of the message:
Re: Florida real estate

Text of the message:
Robert Morrisette wrote:

> Show me one buyer in Las Vegas with "buyer remorse." You must live in the
> East or other foreign area. Average appreciation in Las Vegas last year was
> almost 40%. How can you compare the UK with Las Vegas?

I haven't been in Las Vegas since 1964, so I can't. I was speaking generally
and not specifically about LV. But there have been many places that have
done spectacularly well, arguably with less risk than LV: NYC, Wash DC,
London, parts of Florida, parts of Calif. Since 1981 our home value in
London has risen by 1,500%, for example. (Most of that time the house was
rented out and we lived elsewhere, outside the UK.) And before that, our
previous house had risen by 200% in 4 years. Numbers like that, when you are
leveraged, can make you seriously rich. If you can get the financing to
begin with and have stable income. LV has, arguably, less assurance of the
latter than the other cities cited.



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