I'm considering buying a property that has gone up about about 50,000 dollars in the last 6 months. It's a studio apartment with the W hotel chain. They increased there prices by 50, 000 dollars per unit. The project will not be done until 2009. They say they will increase there prices by another 50,000 by year end. The price of the unit is 558,000 and it about 525 square feet. Should I take the risk?
2006-07-17 11:48:35 · 3 answers · asked by X 3 in Business & Finance ➔ Renting & Real Estate
You should seek your fortune teller as the real answer is no one really knows the future. However, that being said we have had a long hard and unusual run-up in prices nationally and internationally. Interest rates are rising and the housing market is starting to falter. San Diego marked it's first housing price decline, the first time in ten years. The recent August 2006 Kiplinger’s magazine article "Goodbye condo mania" may interest you. Many areas are starting to get the jitters and are already flat lining. Of course if any investment is unchanging you can consider it currently a 3% loss factoring in inflation. Do a monthly check at your bookstore money magazines (Forges, Smart money, etc) and newspaper for recent articles on the housing market. Good luck!
2006-07-17 12:17:23 · answer #1 · answered by underhillprop 2 · 0⤊ 0⤋
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2016-10-14 21:54:36 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Yes, the growth of high end housing has been a staple for Las Vegas. This will not be the end for these ventures.
2006-07-17 11:52:33 · answer #3 · answered by JOHNNY D 3 · 0⤊ 0⤋