When newspapers report and radio stations broadcast, and their arguments were well founded, many people naturally believed them. The people of Las Vegas began to slowly feel that this was indeed the case.
Does Las Vegas still have a future?
Is there still investment value here?
Land prices are like stocks, they sell based on expectations. If a place has no development prospects, the land there is naturally worthless.
When Wash Mining bought that piece of land in New Mexico, 8,000 acres were worth only $200,000, equivalent to only $25 per acre.
There is plenty of desert land in Nevada and Colorado, and the government there also lists it for sale, with the lowest price being only a few dollars per acre, but no one buys it.
Due to the legalization of gambling, land prices in Las Vegas are now around five to six hundred dollars, with the most expensive in the city center reaching over $4,000.
