Holy cow! There must be sick money out there for this POS to go for 3.5MM. WTF!?! Are we living in the Age of Elon or what? Snap out of it already. How does one short SF real-estate?
That wasn't winter rain/snow related fillup, I bet you. There are a bunch of other dams behind Hoover (my link mentioned a dozen) and my guess is that they let the water down when they were building 1-2, and when they finished, the main (Hoover) dam was closed up, and that filled up Lake Mead. There is simply no other explanation why so much water would have gone in the 60s from the lake, or why was it refilled that fast unless it was done by humans. Did I say 100+? Make it almost 300 miles: " the Southern Nevada Water Authority from applying for water rights in several basins in Nevada and the Snake Valley in Utah as part of a plan to send water to Las Vegas through a 285-mile long pipeline."
If thats a bargain, how about this home in Chula Vista for $121/sqf. https://www.zillow.com/homedetails/2920-Gate-Five-Pl-Chula-Vista-CA-91914/61217533_zpid/ It's been on the market for over a year. Literally the guy is just trying to sell it for what he paid for it 13 years ago. Funny how some of these properties have asking prices that are less than half of what it would cost to build and they still can't sell it.
I actually had a car stereo stolen right out of my car in broad daylight in Chula Vista back in the day lol...no sh*t... they popped the hood and unhooked the battery to kill the alarm. Hmmmm. I dunno the answer to your question. And its a good question. More fodder for the bear thesis I guess. You don't have to convince me. I can spell bubble.
That house looks so dated. Can't believe it was built in 2004. I was thinking more like early 1990's.
Dams on the Colorado. I see a lot of potential mountain run-off here. Nobody can predict the weather a year in advance. Just sayin........
There's a bit of a difference between housing in the middle of a large city San Fran CBD with more stable high paying jobs than something like Las Vegas, which rely mainly on the gambling industry. That gambling industry might also not be around forever, what if in 25 years time there's a new law banning gambling??? Could happen, then you're stuck with a mansion in the middle of the desert... Also, the larger the house... the more maintenance. Mortgage payments aren't the only costs involved in a house... what are the aircon costs for that Vegas property you'd think? That will be a shocker...