Currently, there is some debate as to the sustainability of home prices in Las Vegas and other areas. Strong price increases alone do not indicate overpricing. Instead, we have to look at the market as a composite of events, including rents, potential drivers of employment and importantly, supply.
We took a look at some fundamental measures of values, prices relative to rents and prices relative to incomes. Prices and rents have been rising meaningfully in the last couple of years, however, prices have been outrunn... read more