I live in Vegas, my brother works for a title company. A year ago they had 3000 closings a month, last month it was 600
I've been saying up here in the weeds that we have a small window of opportunity to get our ducks in a row on the water issues and that the window will close after the real estate crash in Vegas and Reno is done.
Until then, we're going to see that Vegas and Reno were highly inflated in both price and demand, with much of the demand being nothing more than real estate speculation.
All things considered, I think the over-valuation is worse in Reno than in Vegas.