[caver]

"last month it was revealed that land prices in Nevada fell 47% in the fourth quarter of 2005."


Just what good is all that desert in Nevada anyway? Why did people pay an overinflated price? I don't feel much sympathy for these people who don't know what they are buying.

[randog]

Just what good is all that desert in Nevada anyway? Why did people pay an overinflated price?

I live in Nevada, so I can probably help you here.

The desert is good for two things: military exercises (including blowing up atomic weapons) and mining.

People paid an overinflated price for Nevada property because they were mainly buying investment properties, i.e. Californians that were banking on the Great California Exodus, so they snatched up homes in Reno and Vegas and put them up for rent. Well, they flooded the market with rentals they couldn't rent and here we are today.

[massgopguy]

Maybe they didn't understand the "support system" that Bugsey Seigle had behind him when he bought useless desert land and think they can do it too!