According to a Yahoo article, LV leads the nation in the percentage of homeowners with "underwater" mortgages ... an astounding 67.2%.
One suggestion: In "problem areas" like LV, the tax law should be changed to eliminate capital gain taxes on the purchase of bank owned homes by investors (homes to be used as rentals). When these homes are eventually sold (years later) no capital gain taxes are owed. This might help stem the free fall in home prices.
uhhh...investors moving into the lv market helped cause the problem of sky high prices...prices need to come down!!!...a refinancing program for existing homeowners might help them stay in their overpriced homes...
--- In vpFREE@yahoogroups.com, "brumar_lv" <brumar_lv@...> wrote:
According to a Yahoo article, LV leads the nation in the percentage of homeowners with "underwater" mortgages ... an astounding 67.2%.
One suggestion: In "problem areas" like LV, the tax law should be changed to eliminate capital gain taxes on the purchase of bank owned homes by investors (homes to be used as rentals). When these homes are eventually sold (years later) no capital gain taxes are owed. This might help stem the free fall in home prices.
The insanity of housing speculation coupled with high demand cause the Vegas price bubble which burst last year and this. The victoms are the last buyers in. Lenders must redo the contract or they are stuck with the undervalued properties.
--- In vpFREE@yahoogroups.com, "irdd3000" <irdd@...> wrote:
--- In vpFREE@yahoogroups.com, "brumar_lv" <brumar_lv@> wrote:
>
> According to a Yahoo article, LV leads the nation in the percentage of homeowners with "underwater" mortgages ... an astounding 67.2%.
>
> One suggestion: In "problem areas" like LV, the tax law should be changed to eliminate capital gain taxes on the purchase of bank owned homes by investors (homes to be used as rentals). When these homes are eventually sold (years later) no capital gain taxes are owed. This might help stem the free fall in home prices.
>uhhh...investors moving into the lv market helped cause the problem of sky high prices...prices need to come down!!!...a refinancing program for existing homeowners might help them stay in their overpriced homes...
I've been looking at them the past 6 months. Houses that sold for $550K to $600K new in early 2006 are now selling for $210K to $275K. Way over priced then due to all the flipers in the market the past 6 years ... now very good values IMO.
--- In vpFREE@yahoogroups.com, "gilrus47" <gilrus47@...> wrote:
--- In vpFREE@yahoogroups.com, "irdd3000" <irdd@> wrote:
>
> --- In vpFREE@yahoogroups.com, "brumar_lv" <brumar_lv@> wrote:
> >
> > According to a Yahoo article, LV leads the nation in the percentage of homeowners with "underwater" mortgages ... an astounding 67.2%.
> >
> > One suggestion: In "problem areas" like LV, the tax law should be changed to eliminate capital gain taxes on the purchase of bank owned homes by investors (homes to be used as rentals). When these homes are eventually sold (years later) no capital gain taxes are owed. This might help stem the free fall in home prices.
> >
>
>
> uhhh...investors moving into the lv market helped cause the problem of sky high prices...prices need to come down!!!...a refinancing program for existing homeowners might help them stay in their overpriced homes...
>
The insanity of housing speculation coupled with high demand cause the Vegas price bubble which burst last year and this. The victoms are the last buyers in. Lenders must redo the contract or they are stuck with the undervalued properties.
We're looking at houses this week. We spend so much time in LV we figure we may as well have a house here. Of course, we'll keep the RV for travels. Likely stay in LV from Feb to July
--- In vpFREE@yahoogroups.com, "SluToo" <slutoo@...> wrote:
I've been looking at them the past 6 months. Houses that sold for $550K to $600K new in early 2006 are now selling for $210K to $275K. Way over priced then due to all the flipers in the market the past 6 years ... now very good values IMO.
I was at The Mirage over the weekend with some friends and the Wheel of Fortune machines have always been good late night fun. This year I couldn't find it anywhere and somebody who worked there told us that it is gone from all MGM properties. They have a knock off called Wheel of Gold but without the TV music it is no fun. Anybody know why the game is gone? Every time I see it people are usually playing it
Thanks
Steve
Anybody know why the game
is gone? Every time I see it people are usually playing it
There was a blurb about it in Liz Benston's column in today's LV Sun. Looks
like MGM has done the same thing that Harrah's did recently regarding these
participation branded slots, they took them out. Keep in mind that the
casino's do not own or lease these machines, the manufacturer does. In this
case it is IGT who owns the machine, and they just pay the casino a
percentage of the win. There may also be license fees involved, but the
article did not mention it. I do know for a fact that both of these big
boys are suffocating on their respective long term debt, so maybe they're
looking for any sliver of extra profit they can find to blur some of the
enormous red ink.
Nudge
From: "steve84" <steve84@flash.net>
Subject: [vpFREE] Kind of off topic - Wheel of Fortune machines?
We were at MGM's Monte Carlo this past week and wondered why they had no Wheel of Fortune's ... gues now I know. The rumor was Harrah's was getting rid of all of the IGT progressive machines due to the big cut IGT gets, but MGM beat Harrahs to the punch.
--- In vpFREE@yahoogroups.com, steve84 <steve84@...> wrote:
I was at The Mirage over the weekend with some friends and the Wheel of
Fortune machines have always been good late night fun. This year I
couldn't find it anywhere and somebody who worked there told us that it
is gone from all MGM properties. They have a knock off called Wheel of
Gold but without the TV music it is no fun. Anybody know why the game
is gone? Every time I see it people are usually playing itThanks
Steve
I think IGT gets $125 a day for the each $5 WOF machine on the floor.
It might be a less for the smaller denom games
--- In vpFREE@yahoogroups.com, "SluToo" <slutoo@...> wrote:
--- In vpFREE@yahoogroups.com, steve84 <steve84@> wrote:
>
>
> I was at The Mirage over the weekend with some friends and the Wheel of
> Fortune machines have always been good late night fun. This year I
> couldn't find it anywhere and somebody who worked there told us that it
> is gone from all MGM properties. They have a knock off called Wheel of
> Gold but without the TV music it is no fun. Anybody know why the game
> is gone? Every time I see it people are usually playing it
>
> Thanks
>
> Steve
>We were at MGM's Monte Carlo this past week and wondered why they had no Wheel of Fortune's ... gues now I know. The rumor was Harrah's was getting rid of all of the IGT progressive machines due to the big cut IGT gets, but MGM beat Harrahs to the punch.
I think it's a percentage of the unit's wpd
On Wed, May 20, 2009 at 5:09 AM, al55442 <al55442@cox.net> wrote:
I think IGT gets $125 a day for the each $5 WOF machine on the floor.
It might be a less for the smaller denom games--- In vpFREE@yahoogroups.com <vpFREE%40yahoogroups.com>, "SluToo"
<slutoo@...> wrote:
>
> --- In vpFREE@yahoogroups.com <vpFREE%40yahoogroups.com>, steve84
<steve84@> wrote:
> >
> >
> > I was at The Mirage over the weekend with some friends and the Wheel of> > Fortune machines have always been good late night fun. This year I
> > couldn't find it anywhere and somebody who worked there told us that it> > is gone from all MGM properties. They have a knock off called Wheel of
> > Gold but without the TV music it is no fun. Anybody know why the game
> > is gone? Every time I see it people are usually playing it
> >
> > Thanks
> >
> > Steve
> >
>
> We were at MGM's Monte Carlo this past week and wondered why they had no
Wheel of Fortune's ... gues now I know. The rumor was Harrah's was getting
rid of all of the IGT progressive machines due to the big cut IGT gets, but
MGM beat Harrahs to the punch.
>
[Non-text portions of this message have been removed]
I made this post hoping someone on VPfree might think it worth mentioning to a comgressman they know. I sent an email (with this idea) to Nevada senator Harry Reid and about a month later he replied , thanking me for my input regarding the auto industry!
--- In vpFREE@yahoogroups.com, "brumar_lv" <brumar_lv@...> wrote:
According to a Yahoo article, LV leads the nation in the percentage of homeowners with "underwater" mortgages ... an astounding 67.2%.
One suggestion: In "problem areas" like LV, the tax law should be changed to eliminate capital gain taxes on the purchase of bank owned homes by investors (homes to be used as rentals). When these homes are eventually sold (years later) no capital gain taxes are owed. This might help stem the free fall in home prices.
These casinos are probably long delinquent on payments to IGT, so IGT finally repo'd the machines and sent them to casinos that don't have debt payment problems and pay their vendors on time. Wheel of Fortune is a huge money maker for IGT, if and when they get payed off. It's also a big money maker for casinos, but not enough to fund grand building schemes and outsized executive compensation.
--- In vpFREE@yahoogroups.com, Jason Pawloski <jpawloski@...> wrote:
I think it's a percentage of the unit's wpd
On Wed, May 20, 2009 at 5:09 AM, al55442 <al55442@...> wrote:
>
>
> I think IGT gets $125 a day for the each $5 WOF machine on the floor.
> It might be a less for the smaller denom games
>
> --- In vpFREE@yahoogroups.com <vpFREE%40yahoogroups.com>, "SluToo"
> <slutoo@> wrote:
> >
> > --- In vpFREE@yahoogroups.com <vpFREE%40yahoogroups.com>, steve84
> <steve84@> wrote:
> > >
> > >
> > > I was at The Mirage over the weekend with some friends and the Wheel of
>
> > > Fortune machines have always been good late night fun. This year I
> > > couldn't find it anywhere and somebody who worked there told us that it
>
> > > is gone from all MGM properties. They have a knock off called Wheel of
> > > Gold but without the TV music it is no fun. Anybody know why the game
> > > is gone? Every time I see it people are usually playing it
> > >
> > > Thanks
> > >
> > > Steve
> > >
> >
> > We were at MGM's Monte Carlo this past week and wondered why they had no
> Wheel of Fortune's ... gues now I know. The rumor was Harrah's was getting
> rid of all of the IGT progressive machines due to the big cut IGT gets, but
> MGM beat Harrahs to the punch.
> >
>
>
>[Non-text portions of this message have been removed]