Location, location, affordability

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Forget "Leaving Las Vegas." This story is more like "Leaving FOR Las Vegas." And if it were made into a movie, it would be about people who've fled Los Angeles for more affordable housing out of state. A friend of mine, who asked to remain anonymous, recently bought a house in Las Vegas. She's a career elementary school teacher who's concerned, and not without good reason, that she might lose her job due to state budget cutbacks. The house in Las Vegas is her backup plan in case she loses her position, or alternatively, retires as planned within the next five or six years and wants to move there. The house, my friend tells me, is "cute." It has three bedrooms and three bathrooms. The kitchen has granite countertops, a pantry and cupboards that are low enough to accommodate her relatively short stature. The house is in a gated community with a swimming pool and a park. It cost just $118,000, and the mortgage payment, plus property taxes and hom...