Trending...
- Deaths Spur Closures, but Troubled Teen Camps Must Be Banned, CCHR Warns
- Bach and Beyond: Cellists Return to the Beach for 2nd Annual Bethany Beach Cellofest
- NR7 Miner launches zero-cost USDT cloud mining service: daily stable income + referral rewards for double profit
The Las Vegas valley housing market has seen some sharp declines in sales prices in the last two weeks. The big question is will this decline continue in 2022
LAS VEGAS & HENDERSON, Nev. - Michimich -- The decline in housing prices is most likely temporary according to the real estate firm of Atlas Group LC. In part it is the immediate contraction, or braking of the double-digit price increases we have seen over the past year. The pent-up demand has basically run out combined with the historical slowdown experienced during the holidays.
According to the Atlas Group LC broker and the French Workbench podcast panel (www.dflve.com), everyone feels that the prices will again turn around after the start of the year, basically at the end of the first quarter. The rise in prices will be much slower than they were over the past 12 months, probably holding at around a 5% increase.
More on Michimich.com
Consumer confidence is still strong and the slight uptick in interest rates may just spur additional demand instead of hindering it. People may come to realize that if they don't act now, they may be left behind. People have a way of adjusting their perspectives and they are able to do this quickly. Just look at how long it took the entire world to become comfortable with wearing masks during the Pandemic even though for many, they did not agree with it. In the same manner they will become accustomed to slowly rising interest rates, just like a frog in a pan of ever-increasing water temperature, even to a point of being boiled to death.
Raines said, "People may just have to change their perspective on how much they are willing to spend on a mortgage, even to the point of being mortgage broke. Not to do so, will undoubtedly put them even farther behind. Renters never gain equity. The thought process that being a renter gives them flexibility may no longer hold water as the demand to purchase means that sales will happen quickly."
More on Michimich.com
The bottom line is that everyone needs a place to stay. If you don't make the necessary sacrifices in the short run, you will forever be at the mercy of the market and potential price increases whether that is in the rental market or the sale market because they are tied together. When someone who can't afford to buy also gets priced out of the rental market, they have basically two choices. The first is to change locations to a cheaper area of the country. The second, is to combine incomes by moving in with someone else. It is not unusual in other areas of the world for multiple families to live together.
Be sure and subscribe to the French Workbench podcast at www.dflve.com every Saturday for the most relevant housing and property management updates for the greater Las Vegas valley. If you would like touch base with a property manager, call the Atlas Group LC at 702-916-2222.
According to the Atlas Group LC broker and the French Workbench podcast panel (www.dflve.com), everyone feels that the prices will again turn around after the start of the year, basically at the end of the first quarter. The rise in prices will be much slower than they were over the past 12 months, probably holding at around a 5% increase.
More on Michimich.com
- C & C Heating & Air Conditioning provides pre-vacation home checklist
- Spanglish Entertainment Announces Inaugural Spanglish Party Cruise: A Celebration of Music and Culture
- Revolutionary Blockchain Platform Okh Finance Announces Okh Finance(OKKH) Token Launch to Transform Global Asset Leasing Market
- Cover Girl Finalist Teisha Mechetti Questions Legitimacy of Inked Originals Competition, Demands Transparency
- Easton & Easton, LLP Files Suit Against The Dwelling Place Anaheim & Vineyard USA Over Abuse Allegations
Consumer confidence is still strong and the slight uptick in interest rates may just spur additional demand instead of hindering it. People may come to realize that if they don't act now, they may be left behind. People have a way of adjusting their perspectives and they are able to do this quickly. Just look at how long it took the entire world to become comfortable with wearing masks during the Pandemic even though for many, they did not agree with it. In the same manner they will become accustomed to slowly rising interest rates, just like a frog in a pan of ever-increasing water temperature, even to a point of being boiled to death.
Raines said, "People may just have to change their perspective on how much they are willing to spend on a mortgage, even to the point of being mortgage broke. Not to do so, will undoubtedly put them even farther behind. Renters never gain equity. The thought process that being a renter gives them flexibility may no longer hold water as the demand to purchase means that sales will happen quickly."
More on Michimich.com
- AI Visibility: The Key to Beating Google's AI Overviews and Regaining Traffic
- Stuck Doing Math or Figuring Out Life's Numbers? Calculator.now Makes It Stupidly Simple
- Colbert Packaging Announces WBENC Recognition
- DivX Empowers Media Enthusiasts with Free Expert Guides for Advanced MP4 Management
- Assent Expands Executive Team to Accelerate Global Growth & Innovation
The bottom line is that everyone needs a place to stay. If you don't make the necessary sacrifices in the short run, you will forever be at the mercy of the market and potential price increases whether that is in the rental market or the sale market because they are tied together. When someone who can't afford to buy also gets priced out of the rental market, they have basically two choices. The first is to change locations to a cheaper area of the country. The second, is to combine incomes by moving in with someone else. It is not unusual in other areas of the world for multiple families to live together.
Be sure and subscribe to the French Workbench podcast at www.dflve.com every Saturday for the most relevant housing and property management updates for the greater Las Vegas valley. If you would like touch base with a property manager, call the Atlas Group LC at 702-916-2222.
Source: Atlas Group LC
Filed Under: Business
0 Comments
Latest on Michimich.com
- LIB and Nidec Rejoin Forces for Giant TH-0098 Temperature Humidity Test Chamber
- Heritage at South Brunswick Offers Immediate Townhome Appointments and Special Mortgage Incentive Fast-Moving Sales
- NASA Collaborative Agreement for Supply of Thin-Film Solar Tech for Orbital Application to Advance Development of Thin-Film PV Power Beaming: $ASTI
- Critically Acclaimed Crime Drama Trap City, Starring Jeezy and Brandon T. Jackson Hits #1 on STARZ
- Exciting New Era of Sports, Entertainment & Gaming Innovation Spotlighted by Rebrand of Expanding AI Driven, Online Fan Engagement Company: SEGG Media
- Service Ninjas Debuts First-of-Its-Kind "Membership" Platform for Home Service Pros
- BIYA Forecasts 2025 Surge with ¥300M ($41.8 M USD) in Revenue and ¥25M Profit from Cloud Based HR Solutions: Baiya Intl. Group (N A S D A Q: BIYA)
- Paul E. Saperstein Co. Announces Geographic Expansion of Auction Services
- CMR Mechanical Shares 5 Signs Your AC May Be in Desperate Need for Repair
- Michigan SEO Group Shares 5 Proven Ways to Boost Social Media Engagement for Small Businesses
- Mussio Painting Shares The Benefits of Working with Professional Painters in Ann Arbor
- Family Caregivers in Michigan Can Now Get Paid Through Medicaid with Family Aide Home Care
- Florida Broker Bent Danholm Featured in the Daily Mail's U.S. Real Estate Coverage
- Robin Launches Legal Intelligence Platform to solve intelligence gap in Fortune 500 legal teams
- Melissa B. Releases Digitally Independent: Empowering Music Artists with AI and Brand Strategy
- Consumer Accountability Alliance Issues Formal Notice Alleging Proximate Liability for Medical Harm
- Utah Metal Fabricator Titan Forge Builds Momentum with Custom Steel Projects and Spiral Staircases
- Jason Koch: Pioneering the Future of Real Estate Development in New Jersey
- Bach and Beyond: Cellists Return to the Beach for 2nd Annual Bethany Beach Cellofest
- NR7 Miner launches zero-cost USDT cloud mining service: daily stable income + referral rewards for double profit