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Comment by jongold | Hacker News Reader

I live in London. I'm looking at >$600k for my first apartment. Jon's apartment in Vegas would be a small fraction of my deposit.

Ugh, I feel sick. And need to move.

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If it makes you feel any better (I'm sure it won't), folks in San Francisco and New York face similar.

Las Vegas is somewhat unique in having low housing prices coupled with a huge tourist market which makes such a setup workable.

Well, it makes me see the appeal of the Vegas tech scene ;)

but then you'd have to live in Vegas...

as far as i'm concerned, though, is that other than zappos... there really isn't that much of a tech scene there. tony hsieh has been trying to develop one, and has put a lot of his own money behind it, but honestly i doubt it's going to work.

Don't move to Vancouver, Canada. We are right up in in unaffordability, just like London, NY, Hong Kong, SF, Zurich etc.

Aren't you guys in a bubble?

London has its own economy when it comes to property. Prices have soared to a new record high just in a month (+10%).

So yes, I think the capital is overheating.

Maybe - I can't see prices ever dropping significantly though. Maybe 20%, but they'll always be intimidatingly expensive for first-time buyers.

Lehman Bros collapsed because their computer models excluded the possibility of a major decline in real estate prices. Investor confidence is a contrary indicator.

I feel your pain.

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