Apparently, not so. Despite the fact that home prices have dropped precipitously in the last two years, wages are still too low for far too many Nevadans to afford a home. On average, Nevadans working for minimum wage spend at least 75% of their earnings on housing alone. This simply isn't sustainable, especially since so much of our workforce earns either minimum wage or just above the minimum.
This is something to consider when folks talk about Vegas being "a bargain"... Maybe for househunters that can afford to "bargain hunt", but still not for far too many people.