Ozzie Jurock Advocates Optimism in Las Vegas

“Las Vegas is hotter than a firecracker. It is ridiculous,” says Ozzie Jurock at the 2013 World Outlook Financial Conference on February 1 in Vancouver.

Ozzie was engaged in a debate with noted financier Michael Levy on the benefits of investing in real estate over gold. He explained that he has recommended and continues to recommend investment in Las Vegas and Phoenix, as they are the most profitable markets in North America.

Returns on real estate investment in Las Vegas were up 35%-60% last year alone and now that institutional investors like Canadian and California pension funds are taking notice, there is an increasingly limited window of opportunity to put your money in Las Vegas real estate.

Aside from his bullish outlook on Las Vegas, Ozzie convincingly argued more generally for real estate as a superior investment. He showed that Vancouver real estate values have increased by over 4,000% since the 1970s and have even risen 180% since 2005. Real estate provides even higher returns than these percentages as it is purchased with leverage. Ozzie noted that if you were to put 5% down on a Vancouver house in 1970, and pay off the mortgage, you would see a return of 90,659% by 2012.

CNN and Forbes have also pegged Las Vegas as an exceptional place to invest in real estate, as the city continues to grow amid depressed real estate prices that many believe will begin to increase soon.

Ozzie Jurock is a renowned Vancouver real estate investor, who has presided over a number of successful real estate companies including Royal LePage and Red Carpet Real Estate. He has served on the board of the BC Real Estate Council, the Vancouver Real Estate Board, and the UBC Real Estate Research Bureau, among others. He has also published hundreds of real estate articles in dozens of newspapers and magazines and regularly speaks at investment conferences.