Ed wrote on July 07, 2007 07:17 PM: What if I want a new home built? No new homes for you if Alan Berk had his way... get lost loser!!

People will buy new homes whether you like it or not.

We saw this S#it storm coming, we waited. We too are bargaining on a new home out at Mountains Edge that six months ago would've cost $40,000 more.

Deep Sea Diver wrote on June 19, 2007 01:47 PM: AHOOOOGAH!!! AHHHOOOOGAAAh! DIVE! DIVE! DIVE! THE LASTEST HOUSING REPORT IS OUT....HOSUNG GOING DOWN DOWN DOWN...LAS VEGAS HEADING DOWN DOWN DOWN! DIVE DIVE DIVE!!! AHOOOOGAAHHH!

cas127 wrote on June 16, 2007 09:40 AM: Just another little message for politicos - there may be 2 million households at risk of foreclosure due to their own lack of wisdom but there are 110 million taxpaying households now united by the internet.

A taxpayer bailout of the subprime mess will be the fastest way to have your political career terminated.

John wrote on June 15, 2007 03:00 PM: So throwing more money at "educating" people that their financial decisions are idiotic is going to prevent more foreclosures? Good idea Schumer. How bout they learn something about handling their own personal finances before jumping directly into home ownership. To all the idiots who overpaid for a POS house and got a 22% interest rate on their mortgage: you made your bed, now I get a bargain on that new home I always wanted. Enjoy living in your van.

arthur wrote on June 15, 2007 02:46 PM: The lender is an investor; the buyer is an investor. The foreclosing lender loses money; the defaulting buyer loses credit score. The buyer breaches the loan contract he/she signed! If the buyer was a renter before, he can be one again. As for the "affordable housing", Las Vegas has always had low rent relative to mortgage cost and there have always been places to rent. The basics of supply to meet demand. Nothing novel.

RussBBinVegas@aol.com wrote on June 15, 2007 09:51 AM: Aww, too bad, kiddies. The southern Calfiornia market took FIVE YEARS to bottom out (prices kept falling from 1990 to 95) and you better plan on that happening here ..

Jon Hamel wrote on June 15, 2007 08:55 AM: Yes, the housing market is cooling off, and we are going through what is called a market adjustment. It would seem that the speculators have made their money and have left us with grossly overpriced housing and higher taxes. At the moment, buyers are waiting for the market to bottom out, so sales are slow. If you can believe it, the real estate agents claim they are starving and are leaving the business. Believe me, when I look at my property tax bill, I don't feel sorry for any of them, as many were part of the feeding frenzy. As an example, I believe that the home directly across the street from me was bought and sold four times in a two year period, without a single buyer ever living in that home. In each case speculators bought the home, and flipped it in order to make a large profit. In doing so, these actions drove the market prices higher. The home is now owned by investors, and the home is now a rental. I did have the opportunity to talk to many of these speculators, so I can say with confidence than most were real estate agents who privately bought and sold these properties to turn a profit. I am not suggesting we have any regulation to stop people from doing these things, but . . . I do believe that home owners should not be burdened by taxes that are inflated by these types of activities in the market place.

alan berk wrote on June 15, 2007 08:25 AM: When are ths stupid builders and buyers going to wake-up that we don`t need a single new home built!

that there are 23,000 existing homes for sale!>

When are people going to wake-up and stop buying houses 30- to 60 minutes form their jobs!

i have little sympathy for people being foreclosed in places like summerlin and the Northwest- how stupid was it to buy there in the first place

buying inflated properties with intention of selling them to the next sucker for a further inflated price!

Try buying over near Harmon near UNLV on the eastside and see what value you get for your housing dollar.

predatory lenders wern`t the problem as much as predatory buyers- speculating to make a fast buck!

AliciA Yonemoto wrote on June 15, 2007 07:09 AM: I am labled "disabled," my doctors took my out of the work force. For 15 years I was a Real Estate Licensee, Agent then Broker. I am sick of the Predatory Lenders that swarmed in during to Boom market of 2005-2006! These lenders have no office in Nevada as required by NRS. They used traveling Notarys to sign Loan Documents, No Good Faith, No Reg Z, bait and switch, no NV Title or Escrow, closings were done inhouse, in CA. I have seen Titles with a Joint Tenancy when the elderly man is a widower. So who is on his title? Is is a case crying for the Days of Floyd Lamb! Shave & Strip em' haul them to the Stateline and send them on foot back to California! Predatory Lenders Nevada does not recognize your illegal pratices and you deserve NOTHING, save the one way ride to the Stateline!

bruce wrote on June 15, 2007 06:36 AM: The last theing Nevada needs is federal l4egislation to prop up sub-prime homeowners who cannot refinance. While I am certainly noy unsympathetic, the Nevada housing market NEEDS to fall and stabilize at lower, more affordable price levels if we are ever going to have a sustainable housing market for anyone but the wealthy. The market was grossly infalted by speculators who may have run from the market, but will not scurry back to sop up forclosure deals -- to the extent there are any. That should support the market somewhat in itself. But as draconian as it may be, the Southern Nevada housing market must continue to fall and then stabilize at about 2001-1002 prices if the so-called "lower and middle- middle classes" are ever to renter the housing market. All the high priced highrises are not helping matters, and are only widening the rift between the rich and the rest of us. Las Vegas is a community, not merely a tax mecca for the wealthy seeking to claim residence. The market must be allowed to adjust itself, and the moratorium on condo conversions must end soon. We need affo0rdable housing, and this natural market correction should be allowed to run its course.