The West in general is so overvalued, especially Las Vegas.
The Western United States is going be interesting. If there is a economic downturn they usually get the worse of it with Las Vegas usually really affected by an economic downturn.
$316,000 median home price and the city has little industry outside of hospitality, construction related to hospitality with some hospitals and retail for a metro of well over 2 million
The city is full of hospitality workers with large families who made relatively good wages because the city is big on collective bargainly which means decent wages because visitors tend to lose themselves and spend a fortune because of the excitement.
Las Vegas is basically a tourism and health-care economy for a metro area of well over 2 million people and the industry really raised the rates and made a fortune thinking the times would never end.
The median home went to $316,000 compared to a decade ago when they were selling for prices similar to Detroit or Gary in many areas.
https://www.ktnv.com/news/median-hom...ll-time-record
https://nypost.com/2020/03/16/las-ve...avirus-crisis/
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