No Bubbles Popping?
Las Vegas Appraisers are scoffing at the idea that the Las Vegas Housing bubble will pop. The article cites the following Las Vegas housing cycle:
• In 1905, the City of Las Vegas started with only 30 people. Even then, naysayers said the city would not last.
• In 1955, surrounding Clark County had grown to over 25,000. Life magazine published a big cover story asking, “Las Vegas – Is the Boom Overrated?”
• In 1995, when the population topped 1 million, bankers were warning against loaning too much money to prevent “over-building.”
• Nevada has shown the fastest population growth in the nation for 18 years straight.
• In 2005, abut 7,200 people moved here every month, that’s 86,500 in just one year.
• In 2025, about 1.5 million MORE people are expected to be living in the Las Vegas Valley.
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