Where is the next Las Vegas?

Jesse_DD · 04-09-2004

I find it amazing that only 50 years ago where Las Vegas is now was absolutely barren. And of course just purchasing a 100 acres here or there at rock bottom prices would have yielded tremendous wealth.

Similarly, Chicago grew to one of the largest cities in the States from almost nothing in the 1830's in a very short period of time.

What city stands out to everyone as being that next booming city worth buying some land in/around?

pushpills · 04-09-2004

Chicago is still going up up up. Buy a condo in lincoln park as an investment, and I'll rent it from you so you'll make even more. Everything here grows 5-10% a year sometimes more. A group of small condos on the 1800 block were 450k a piece 3 years ago, try 650k now.

Also, look for growing suburbs with good school systems and the towns nearby. In naperville stuff is real expensive now, and right near it is plainfield, and everyone wants to come near naperville, so they are all building up plainfield as fast as I've ever seen, if you bought even a 20 acre farm there 5 years ago you'd be richer than hell from the sale now.

Last edited by pushpills at Apr 9 2004, 02:02 PM

Jesse_DD · 04-09-2004

I live in Orlando. We are seeing the same 8 - 10% appreciation. As are many parts of the country. I worry of a bubble but who knows. I keep buying rental real estate because I still see no better place for my $$$.

However, what I ideally would like to find is a parcel of land that will grow at 40% rates and not at the historical 3 - 5% (in good areas).

In the 1960's there was a little town near where I live now called Kissimmee. This little town consisted of nothing but orange groves, farms, and trees. You could purchase this land for $100's per acre. My father's second wife's family owned a couple thousand acres of Orange groves there. By the late 1980's / early 1990's you could sell this land to a company called Disney for $100,000's of dollars per acre.

Monk · 04-09-2004

Baghdad

Jesse_DD · 04-09-2004

That is funny as shit - and probably true!!!

Mike AI · 04-09-2004

I think the coast lines of Florida that are undeveloped are going to be boom places in the near future.

Almighty Colin · 04-09-2004

Quote:

Originally posted by Monk@Apr 9 2004, 05:12 PM
Baghdad

haha. High risk, high reward.

Monk · 04-09-2004

Personally, I think we are going to go thru an extended period of economic downturn and therefore there are no areas in North America that will boom in the next 20+ years.

Almighty Colin · 04-09-2004

Quote:

Originally posted by Monk@Apr 9 2004, 08:01 PM
Personally, I think we are going to go thru an extended period of economic downturn and therefore there are no areas in North America that will boom in the next 20+ years.

National Enquirer?

Hell Puppy · 04-09-2004

Quote:

Originally posted by Mike AI@Apr 9 2004, 06:37 PM
I think the coast lines of Florida that are undeveloped are going to be boom places in the near future.

That's possible due to the retirement of the baby boomers.

All those retirees are going to impact every area of our economy for the next 20-30 years. In some ways it'll be good, in some ways it'll be bad.

Rolo · 04-09-2004

The world economic will continue to grow and people will continue to move from the country to cities... there will probably be alot more "megacities" (cities with more than 10 mio people) in the next 25 years, however most of them will be in poor countries (but still city centers will be worth many times what they are now).

Vick · 04-10-2004

Louden County, Virginia I believe is the faster growing county in the USA right now

All the bedroom counties for DC are growing

I live 15 miles from Baltimore and 25 from DC and in 4 years my house has increased in value 65%

It's not the next Vegas but it's booming

Mike I think you're right about undeveloped areas in Florida

Monk · 04-10-2004

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« Previous Thread | Next Thread »

Originally posted by Colin+Apr 9 2004, 08:35 PM-->
QUOTE (Colin @ Apr 9 2004, 08:35 PM)

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04-10-2004 #14

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...and burst your bubble was 'pun intended'.

... The stock market bubble bursting would take a long time to unravel even if this was the only thing happening. The stock market tends to go in cycles.

.... then you have to throw in terrorism which will cause people to travel less, spend less, etc. which will hurt the economy. Also, people will be less willing to invest in the stock market because any major terrorist event will send the market plunging, which will hurt the economy.

.... there's more but I won't bore you.

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04-10-2004 #15

Jesse_DD

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I do like Florida for a number of reasons. First, there is an "endless" number of people that move from the NE to Florida. There is a growing number of elderly. The projections for population of the people between the ages of 70 - 80 is supposed to be equal those between 30 - 40 (pretty close) within the next 40 years.

A good idea might be to concentrate on the areas that primary focus on the aging population (elderly). There is a place in between (I think) Orlando and Tampa/STP area that is called The Villages. They have done a very good job.

Florida is getting rather expensive rather fast as every developer in and out of the States has also realized this. But, there are probably some good land buys out there.

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04-10-2004 #16

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SW Florida - although Naples is about boomed out........ the property that is there is still esculating. The house I bought in 2000 & sold in 2003 - went up 45% and it wasn't water front. Beautiful beaches, but a lot of traffic in season.

The baby boomers are heading south.................. and a lot of the west coast of Florida is not as populated yet, as the east side.

The house I bought last fall in Cape Coral on a waterway, is already valued at $100,000 more than I gave for it & I only spent $20,000 in redecorating & and adding on the Lanai. Cape Coral is only 40% developed & has 400 miles of waterways, although very little beach. It is the 9th fastest growing city in the country. Last year was the really good year to buy. The contractors are starting to buy up all the good lots on the water, so land prices are going up considerably. But, you can still buy a lot for $75,000 on one of the canals. There is construction everywhere. Thank goodness the roads were developed well in advance to handle more people.

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04-10-2004 #17

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Quote:

Originally posted by Monk@Apr 10 2004, 08:03 AM
Sorry to burst your bubble.... economies have downturns.... sometimes lengthy ones.

Sure, and the National Enquirer predicts them every year. As you're probably very well aware SOMEONE predicts them every year.

So here's the logic you've presented:

1. Sometimes economies have downturns.
2. The stock market tends to go in cycles
3. terrorism which will cause people to travel less, spend less, etc. which will hurt the economy

1. True. But if I ask you why the sky is blue you have to be able to say something better than "because it is blue". A is true because sometimes A is true. Circular logic.

2. I assume you're pointing out the fact that sometimes markets go up and sometimes down. OK, Agreed. That's trivial. So you're saying it will go down because sometimes it goes down. Circular logic again.

3. "terrorism which will cause people to travel less, spend less, etc. which will hurt the economy"? Completely conjectural. Probably the same logic as in the most recent Enquirer article.

Come on, Monk. Wake up,man! You're boring me. Have anything a little more concrete? Impress me.

Last edited by Colin at Apr 10 2004, 02:34 PM

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04-09-2004	#2
pushpills ¯¯¯¯¯¯¯¯¯¯¯ The global leader in pay-per-view AEBN Join Date: Jan 2004 Location: chicago Posts: 3,460	Chicago is still going up up up. Buy a condo in lincoln park as an investment, and I'll rent it from you so you'll make even more. Everything here grows 5-10% a year sometimes more. A group of small condos on the 1800 block were 450k a piece 3 years ago, try 650k now. Also, look for growing suburbs with good school systems and the towns nearby. In naperville stuff is real expensive now, and right near it is plainfield, and everyone wants to come near naperville, so they are all building up plainfield as fast as I've ever seen, if you bought even a 20 acre farm there 5 years ago you'd be richer than hell from the sale now. Last edited by pushpills at Apr 9 2004, 02:02 PM __________________ ...Almighty Content - Free feeds for your members area!... The internet is a great way to get on the net. -Bob Dole ...Remote Thumbs - Make your TGP work for you!...

04-09-2004	#6
Mike AI Administrator Want to see your own Advertising Here! Join Date: Oct 2002 Posts: 11,618	I think the coast lines of Florida that are undeveloped are going to be boom places in the near future. __________________ Make big money on your Domains! Why wait 40 days to get paid with the other guys? Parked.com pays the most for your traffic, and cuts checks twice a month!

04-09-2004	#11
Rolo Members Join Date: Dec 2002 Location: Six Feet Under Posts: 2,150	The world economic will continue to grow and people will continue to move from the country to cities... there will probably be alot more "megacities" (cities with more than 10 mio people) in the next 25 years, however most of them will be in poor countries (but still city centers will be worth many times what they are now). __________________ "Chaos is the law of nature, order is the dream of man." ~Henry B. Adams (Historian) 1838-1918

04-10-2004	#12
Vick Celebrating Company's Success with A Beer From Mini Bar Want to see your own Advertising Here! Join Date: Oct 2002 Location: Little South of Sanity Posts: 6,551	Louden County, Virginia I believe is the faster growing county in the USA right now All the bedroom counties for DC are growing I live 15 miles from Baltimore and 25 from DC and in 4 years my house has increased in value 65% It's not the next Vegas but it's booming Mike I think you're right about undeveloped areas in Florida __________________ Pssst Click the Button Above I once wanted to be a Gynecologist But I couldn't find an opening

04-09-2004	#1
Jesse_DD Members Join Date: Mar 2003 Posts: 336	I find it amazing that only 50 years ago where Las Vegas is now was absolutely barren. And of course just purchasing a 100 acres here or there at rock bottom prices would have yielded tremendous wealth. Similarly, Chicago grew to one of the largest cities in the States from almost nothing in the 1830's in a very short period of time. What city stands out to everyone as being that next booming city worth buying some land in/around? __________________ Almighty Content - Free Live Content

04-09-2004	#4
Monk Members Join Date: Oct 2002 Posts: 497	Baghdad