Here's a link to an old thread:
http://theeroticreview.com/msgBoard/viewmsg.asp?MessageID=17214&boardID=3

Housing prices over the last few years have gone out of control.  Homes have doubled in prices for the same property over that period of time (in some cases, exceeded that by leaps and bounds).

If you were coming from an expensive part of CA, cashing out and either buying to live here or investing was a major driver of the demand for housing which led to the price increases.

Outside of that, here's some observations:

No state income tax.  Somewhat offset by the sales tax (currently 7.5% in Clark County, may increase to 8% due to recent voter initiative to fund more police), higher auto registration costs.
Gas and eletricity prices (commodity prices in general) closely mirror LA.  Gas in LV is currently third highest in the nation (trailing Hawaii and LA).  Electricity costs are fairly high, with the local power company (Nevada Power) getting burned during the Enron-created crisis a few years back.  Plus you have to run it at higher loads during the warmer months since you need to cool down your place from the 110+ degree weather.
Auto insurance rates are sixth highest in the nation.
Locals are losing plenty at the locals casinos.  Just look at the  rising profits and forward outlook at companies like Station Casinos and Boyd Gaming.
Probably a larger than average per capita attorney to resident ratio.  Many potential plantiffs have a jackpot mentality.
For retiring, there are some pretty good communities that cater to the 55+ crowd.

Laughlin, Mesquite and St. George are probably all far enough away from Las Vegas to be shielded from some of the growth in LV.  Pahrump and other parts of Nye County are starting to see growth as people move further and further away from the strip.

Bob