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Lv Land Prices Drop 47 Percent In Fourth Quarter

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Housing prices are flat, high-rise condo projects are canceling sales, and now land values have dropped by almost half in Las Vegas, local research firm Applied Analysis reported.

The average price for an acre of vacant land in the valley was $376,200 in the fourth quarter, down 47 percent from the previous quarter and down 28 percent from the same quarter a year ago.

http://www.reviewjournal.com/lvrj_home/200...ss/6612388.html

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Housing prices are flat, high-rise condo projects are canceling sales, and now land values have dropped by almost half in Las Vegas, local research firm Applied Analysis reported.

The average price for an acre of vacant land in the valley was $376,200 in the fourth quarter, down 47 percent from the previous quarter and down 28 percent from the same quarter a year ago.

http://www.reviewjournal.com/lvrj_home/200...ss/6612388.html

Interesting to see the different reporting attitudes to this kind of data in US and UK.

In US they see an HPC looming, acknowledge it, and simply deal with the consequences.

Here the BBC nd rest of media would be spining such data as a 'soft landing'.

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Very good news.

You probably know that what we are dealing with is a "land" bubble, rather than a "property" bubble.

People wanting to see the start of a housing crash should monitor the price of land, although this is not so easy in the UK as plots aren't readily available.

In a boom the price of land rises earlier and quicker than the price of houses, and in a bust it falls earlier and faster.

About a year ago a builder I know of cancelled buying 2 large houses, his plan was to demolish them and build flats, essentially he was buying land. He's subsequently pulled out of the deal.

Watch for this happening more and more as the market slides.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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