Omid Michael Shahabe's (omid) Blog

According to Professor R.Keith Schwer Ph.D. UNLV "Residential construction remains depressed. The supply of empty housing units (new homes, existing homes, apartments, residencies for sale by owner, and unlisted foreclosure properties) exceeds 25,000 units. This supply of empty units far exceeds...

In Jan. 2008 there has been a total of 19,777 Single family homes and 5,320 condos for Sale in the Greater Las Vegas area. From this only 20% of the Single family homes and 16% of the condos have been selling. Comparing to the same time last year there has been a drop of 39.5%. This has caused th...

The office vacancies rose 15.28 percent in forth quarter, a 2.9 percent quarterly increase, due to a slowing economy and housing market fallout. CB Richared Ellis reports. This would be the valley's highest vacacny rate since the last quarter of 2001. Looks like this sectcor of the market is soft...