Whether Las Vegas real estate is in a bubble or not–this article leans towards not—Californians are finding greener pastures away from Gov. Brown’s reckless policies. As I’ve noted in the past, the direction of individual states is a geographical portrait of right vs. left (wrong) ideologies.
Eli Segall writes from the Las Vegas Review-Journal:
Las Vegas home prices are rising at one of the fastest clips in the country, with builders fetching record dollar amounts and resale values approaching prior highs.
The growth is so fast that, according to a new report, prices here are the most overvalued in the country.
Southern Nevada home prices were 20 to 24 percent overvalued in the first quarter, Fitch Ratings reported Wednesday. That’s up from 15 to 19 percent overpriced in the same period last year and 10 to 14 percent overvalued in the first quarter of 2016.
Read more here.
