Canadians advised to invest in Las Vegas real estate to use as rentals

I just returned to Big Bear from Maui and wanted to post some of the latest developments in the world of real estate: it was reported in the media last week in the morning that real estate is expected to fall 3 or 4 percent further before it bottoms at the end of next year. Investors in the U.S., as well as from other countries are stepping in to take advantage of the situation. All in all I know that the Big Bear real estate
here in California has been thus affected and when I was in Maui it was there as well.
“Prices have dropped but rents are stable making market attractive to investors,” writes Iris Winston for Postmedia News in an article entitled, “Real estate in Las Vegas seen as a safe bet,” posted October 29, 2011.
Winston says realtors in the U.S. and Canada advise that with low real estate prices and stable rent prices, now is a good time to invest in rental property in Las Vegas, where prices that soared five or six years ago have since plummeted. She writes that prices in the city are down nearly 60 per cent since the height of the market in August 2006. I wonder how all of this will effect the Big Bear and also Maui real estate markets specifically on a regional basis.
However, rents remain relatively steady, reports Winston, a good scenario, she says, for investors.
Winston quotes real estate broker Steve Martel of Martels Real Estate Inc. in Ottawa as saying, “”Where in Canada can you currently buy a $50,000 property that you can turn around and rent for $1,000 a month?” Martel specializes in the U.S. real estate market.