Bet your house - property investment Vegas style
So, Las Vegas property prices have seen the biggest US slide for the third month in a row. International property investors will no doubt have noted the irony in the emergence of one of the potential bargain opportunities of the year appearing in the world’s gambling capital.
But is pumping your cash into a piece of Nevada real estate really comparable with hitting the tables on the strip? Probably not, especially given the same set of statistics from the Altos 10-City Composite Price Index also show American price slides are now starting to slow, suggesting now would be a good time for a flutter before values across the pond start steadily climbing again.
Gambling on property – a whole new meaning
But if you really would rather take the bigger risks, why not gamble on a house? Literally. Yes, that’s right, if you are desperate enough to get into international property investment there are plenty of people willing to take your money in exchange for the chance of winning a house.
Typical examples include the imaginatively-named winahousecompetition.com, where site visitors can stump up £25 to be entered into a draw for a home worth £500,000 “for occupation or investment”.
Historic house hiccup
It turns out this sort of thing has been going on for some time. A contest run at winahouse.co.uk expired in 1998 after “less than 1,170 entries for the competition were received against a minimum requirement of 60,000 entries”.
Take it from me. A punt in Vegas is far more likely to pay dividends. Time to check my air miles.
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