Did Obama fail Vegas real estate?
June 2nd, 2011, 3:24 pm ? 12 Comments ? posted by Jon Lansner
Click to enlarge charts!
Mitt Romney, businessman and former Massachusetts governor, entered the Republican presidential race Thursday, blasting President Obama and what Romney saw was a failed presidency.
We?ll let other forums debate many slices of the presidential political landscape, but we here in the real estate epicenter could not help but notice this housing brick Romney tossed Thursday at the president?s economic policies, according to a copy of his campaign-launch speech obtained by Fox News ?
?I visited with a family, Kathy and Dave Tyler, who live in a suburb north of Las Vegas, Nevada. You probably know families just like them. They?re in their early forties, a couple who had worked hard, sacrificed to buy a home in a good neighborhood, the sort of place they wanted their daughter Allie to grow up.
But now that neighborhood is being crushed by this Obama economy. First their neighbors started losing their jobs ? and then their homes. And all around them now are abandoned houses ? and abandoned dreams.
Hey, the president can be blamed for lots of things ? but the shabby state of Vegas real estate?
- Las Vegas home prices have fallen 27 percent since Obama took office in January 2009, using DataQuick?s median selling price for all homes for Clark County. Not good, but Vegas prices had fallen 49 percent from its November 2006 peak before Obama took office.
- Home sales have averaged 4,448 residences in the 28 months since Obama took office, by our analysis of DataQuick stats. That is up 14% in the previous 28 months. (It is, 18% below the average sales volume since 2000.)
Ponder the charts at right. The large yellow marker denotes January 2009, when Obama became president.
How much can Obama be blamed for Vegas' housing debacle?Source: http://lansner.ocregister.com/2011/06/02/did-obama-fail-vegas-real-estate/112045/
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