U.S. new home sales fall in January as prices march higher

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4. The housing market is crazy here in Vegas

it's impossible to buy a resale home if you need a mortgage. I bought a townhome under construction and it's barely under $400K. The prices on this townhome rise by $10,000 every week and that's with basic options (no frills).

My worry is how can people afford it because the salaries in Vegas are horrible.

Rentals are also sky high and Nevada does not put caps on rent increases. My rent for my current 1 bedroom apartment (which is super nice) is only $100 less than what my mortgage will be once the townhome is finished in April/May.