LAS VEGAS REAL ESTATE

Today just for poops and tee-hees I decided to find out what kind of houses I could buy in the greater Las Vegas area with the money I spent on my apartment. What I found kinda made me sad.

Las Vegas is one of the hardest hit areas right now in the economic crisis that the US is suffering from. Perhaps I shouldn’t have picked an area that’s already down on its luck but its staggering what I found today. Also keep in mind that it is reported that 1 in 5 mortgages in the US is worth more than the actual value of the home in question. Crazy. So let’s get on with my findings.

First, let’s look at this home. Built in 2006, this house is three times the size of my apartment. It has three bedrooms and three bathrooms. There’s a two car garage and central air-conditioning. There also appears to be an in-ground pool in the backyard as well. All for roughly the same price as my place.

Then there’s this house. Built in 2007, it is over four times the size of my place. Three bedrooms, pool, air-conditioning… blah blah blah, you get the picture, it’s seems like an awesome home. It’s been on the market for just about three months. Again, it’s in the same price range that I paid for my apartment.

The thing to notice here is that I didn’t just go hunting for these bargains. There are literally pages and pages of listing of similar homes built within the last three years that are all dirt cheap compared to real estate here in Vancouver. If you want to look at the rest, click here for the list.

It’s very difficult to comprehend how situations are so completely different in the US. If only I could drive down to LV, buy one of the houses, and put it in my trunk for the drive back to Canada.