Las Vegas real estate agent Todd Miller talks about the commoditization of the real estate market in Las Vegas. A number of years ago the phrase “Manhattanization of Las Vegas” became talked about as the city grew more vertical. Now that bank owned foreclosures have dominated the marketplace and investors have flooded back in reaping huge investment returns, the differentiations of the real estate products have diminished. This has been good and bad for Las Vegas, creating new opportunities for those with cash, and destroying equity for those that had previously owned properties in Las Vegas.