I doubt that they’re planning that far ahead. From what I see here in NJ (and NE in general), there’s actually more inventory being put on the market by banks in recent months than before.

Any slowdown in inventory there likely has more to do with the NV law making illegal foreclosures a felony, and the expiration of the tax break for short sales. Soon to be reinstated.

If they’re not waiting for prices to rise in a market that dropped 20-25%, they’re not holding their breaths in a market that’s down 50% from peak. Especially since Vegas (IMHO) has very little future.

Everyone and their momma allows gambling right now, and there is very little attraction that can’t be replicated anywhere else. (Concerts and shows can happen anywhere if you think about it.)