Where’s the Irrational Exuberance?Over the last decade I’ve had a front row seat to one of the most interesting real estate markets in history. I made my first foray into the Las Vegas real estate market twenty years ago as a long-distance investor and landlord. I saw the growth taking place and believed that appreciation was sure to follow. I was way ahead of my time. There was so much building going on that prices remained flat. Buyers wouldn’t buy used when they could easily afford new. … [Read more...]