BiggerPockets

Las Vegas is looking highly desirable for a move after i graduate next year with the huge hit to its housing market (and its local economy doesn't affect me because I work online)

The drastic decline was caused from the city's dependence on the entertainment industry, that much I know. However my thinking is that maybe this makes investment here a bad choice because Vegas may be prone to a corrective cycle with every little bump in the road. Maybe it's worth the premium to stay and invest in Los Angeles, where my investments are more stable because the economy is more stable.

What are your thoughts about this?

Thanks

Richard, when do you see the market recovering? I am sure deals can be found for flip, but I can't see the market appreciating for quite some time?

Maybe it's worth the premium to stay and invest in Los Angeles, where my investments are more stable because the economy is more stable.

Who told you that!?! Many businesses are gone, more are going under, vacancy rates in commercial retail, office, and industrial are rising, property owners are struggling to retain and attract tenants, and values continue to reduce. Job losses are at nightmare proportions and the home foreclosure rates are very high. I wouldn't consider that a stable economy. Are their cities worse off? Heck yes.

I think Las Vegas is a great place to invest IF you use the proper strategies and buy correctly. It is my professional opinion that Las Vegas will be one of the first cities in the country (speaking of cities that got hammered from the bubble burst) to recover. :D

People in CA are moving out to many different states. Retired people moving to lower cost, small town cities all across the country.
Of course, CA being what it is, also still attracts people to move here, hence the continued population growth.