Nevada is Broke and Going Bellyup

[1flyfisher]

Worst foreclosures in the Country.
One of the highest unemployment rates.
No industry besides Gaming which is dead.
http://www.rgj.com/article/20100207/NEWS07/100207003

 

[EMRGLOBAL]

Nevada, Cali are in a Depression. What happens in Cali, tends to work its way to the mid west and over to the East.

Plenty of "Blue States" gone belly up.

We are in a Depression. Most will not admit or most have their head in the sand.......

There will be plenty of opportunities to make money.....for the smart ones.

 

[lasner]

Scary....only going to get worse

 

[gdtrader]

No Depression without price drops... housing and utilities very expensive even with current downflall. Real Depression you would see 50% fall in housing not happening

 

[der_kommissar]

I get the feeling that alot of those properties will soon be converted into luxury meth labs, if they haven't been already.

 

[MattF]

Quote from gdtrader:

No Depression without price drops... housing and utilities very expensive even with current downflall. Real Depression you would see 50% fall in housing not happening

get that double dip or slow downfall...then we may just hit those outskirts or be in it...

 

[lasner]

Quote from gdtrader:

No Depression without price drops... housing and utilities very expensive even with current downflall. Real Depression you would see 50% fall in housing not happening

That is happening in certain parts of the country.....housing will continue to fall substantially. We are really only beginning.

A friend of mine works at Bank of America. The CFO of Mastercard gave a presentation to them and told them that real estate will drop 40% off of the 2006 peak in every part of the country.

She said that California and Florida are gone. They may recover in 2030. The bottom of the depression will be in 2015.....that's when we finally hit bottom

 

[sumfuka]

Quote from lasner:

That is happening in certain parts of the country.....housing will continue to fall substantially. We are really only beginning.

A friend of mine works at Bank of America. The CFO of Mastercard gave a presentation to them and told them that real estate will drop 40% off of the 2006 peak in every part of the country.

She said that California and Florida are gone. They may recover in 2030. The bottom of the depression will be in 2015.....that's when we finally hit bottom

If what you said is true, then between now and 2015 would be the best time to accumulate RE in good locations

 

[ralph00]

Quote from lasner:

That is happening in certain parts of the country.....housing will continue to fall substantially. We are really only beginning.

A friend of mine works at Bank of America. The CFO of Mastercard gave a presentation to them and told them that real estate will drop 40% off of the 2006 peak in every part of the country.

She said that California and Florida are gone. They may recover in 2030. The bottom of the depression will be in 2015.....that's when we finally hit bottom

So the CFO of Mastercard is now an expert on RE?

RE has already fallen by 40% or more in many cases. Cap rates on comm'l stuff have gone from 5 to 8 and still rising. That's more than a 40% fall.

 

[Debaser82]

Quote from lasner:

That is happening in certain parts of the country.....housing will continue to fall substantially. We are really only beginning.

A friend of mine works at Bank of America. The CFO of Mastercard gave a presentation to them and told them that real estate will drop 40% off of the 2006 peak in every part of the country.

She said that California and Florida are gone. They may recover in 2030. The bottom of the depression will be in 2015.....that's when we finally hit bottom

Did he say anything about the USD, stocks, commodities? Thanks.