Saturday, October 27, 2007

Nevada Real Estate

"Based on September's inventories and sales rates, Southern Nevada has about a 19-month supply of existing homes and a three-month supply of new homes. ... 'Trust me, there's another real estate boom coming', [Larry] Murphy [president of real estate research firm SalesTraq] said. ... Nevada is tied with Hawaii at No. 2 for the share of its residents' income that goes toward housing. Nevada homeowners spend an average 46 percent of their wages on housing. California is No. 1, with an average of 52 percent", Las Vegas Review Journal, 26 October.

Did Murphy predict the current Nevada real estate (RE) crash? I'm positive Nevada will have another RE boom. When?

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