Las Vegas High Stakes Housing Game

Kelly Zito:

Las Vegas' lucky number last year was 52 -- as in 52 percent. That's how much real estate prices jumped in the nation's fastest-growing city in one year, as a housing shortage set off a wave of speculation by investors from California and other states.

But as any gambler knows, Lady Luck eventually turns a cold shoulder. Las Vegans wanted to cash in, too, and so many put their houses up for sale that they flooded the market. By the end of the year, some homebuilders were slashing prices.

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This page contains a single entry by Jim Zellmer published on March 7, 2005 9:09 AM.

Real Estate Speculators See Gold in the Boom was the previous entry in this blog.

Warren Buffett on Homeservices is the next entry in this blog.

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