Gambling in Vegas

Wow.

“Home Builders Research reported that new home sales through May are down 43.8 percent in Las Vegas from a year ago and resales are off by 34.7 percent....Meanwhile, the inventory of homes for sale on the MLS climbed to a record 23,642 in June, with about 40 percent of them sitting vacant."

From KVBC 3 in Nevada. “The numbers don’t lie and they can be sobering. Each month about 5,500 homes come on the market in Las Vegas and only 1,500 are sold.”

I guess no more news like this from three years ago:

Between the second quarters of 2003 and 2004, single-family home prices in Las Vegas shot up 52.4 percent, according to the National Association of Realtors. It was the greatest 12-month increase ever for any metropolitan area.

Maybe roulette would be a better bet.