Las Vegas housing expensive

It is if you look at the report that the National Association of Home Builders, or NAHB, and Wells Fargo just published. The study took into account the median family income and the median sales price of a sample metro area during the first quarter of 2007 and then arrived at an affordability index. According to its findings, Las Vegas ranks 186 with only 18.9% of households able to purchase a median-priced home. That is a worrisome number.

I don't know what the index was before the residential real estate boom started early this decade, but it must've been much higher than the above figure. To read the entire article, please click here.