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35 sats \ 3 replies \ @Rothbardian_fanatic OP 30 May \ parent \ on: COVID ZIRP Triggers ABCT in LV Industrial RE econ
I don’t know if Vegas is much better than Californicated or not. The time I was in California, it was great and Vegas (where we went at least once a month) was still a sandy spot down the hills from Death Valley.
The article, I think, is talking much more about industrial space versus residential spaces. The last I really heard about Vegas was long enough ago that it may not apply any more. At that time, there were a lot of empty houses and housing developments around with plenty of room, but I suspect that that has really changed since about 2012. Those houses might now have owners besides Blackrock and individuals.
I was thinking about all the businesses moving out of California. I get that they misallocated resources towards it, for all the typical ABCT reasons, but I'm almost surprised they were even able to keep up with that demand growth.
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but I'm almost surprised they were even able to keep up with that demand growth.
I think that the RE growth came about because of the zero rates, that after inflation were actually negative. Another factor to consider is who is running Vegas. I think they can get things done in the most amazing of circumstances, voluntary or not.
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Another current article about what is actually ABCT Malinvestment would be:
https://www.zerohedge.com/personal-finance/billion-dollar-ghost-town-surrounds-under-armor-headquarters It points out the results of the ZIRP on commercial real estate.
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