America's Best Undervalued Places to Live

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Las Vegas

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(Ethan Miller/Getty Images)

After a dizzying run-up in prices during the first half of the decade, Sin City has become a cautionary tale for real estate investors everywhere. Since its 2006 peak, Las Vegas home values have plummeted by more than 50 percent. The median price of a single-family home in Las Vegas was $140,000 in the first quarter, which IHS Global Insight considers 41 percent undervalued.

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