Southern Nevada housing values slow to recover

Moody's Economy.com analyst believes real estate values will take a long while to reach the levels they got to around 2006, the peak year of this recent ultra expansion. Prices shot up at a rather steep curve and then slammed into a wall and plunged at a scary velocity. With that disintegration a lot of other economic fundamentals were thrown out the window, too, and there seemingly are the seeds to the sluggish housing recovery.

Real estate prices will take 20 years to reach the earlier high point in California and Florida, the Moody's Economy.com forecast asserts. That's entirely possible knowing what those states have gone through. Arizona and Nevada, especially the Las Vegas valley, are conspicuously absent in it, although they are as a rule considered among the four most bubbling ones and then later the most distressed ones, sporting as severe mortgage foreclosure numbers and terrible housing market conditions as the other two.

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