The bad news is coming all at once to  readers of USA Today about the Las Vegas real estate market. If you watch it week-to-week like we at the Business Press blog do, youi’ll already know this but it you’re a realtor hoping for some out of town clients to buoy the market, expect them to low-ball you.

The paper reports that the roller-coaster ride is definitely on the downhill slide. It points out that prices rose 137 percent since 2001 and that a lot of that boost came from investors. It has even scarier numbers about the number of interest-only (or less) loans in the first quarter.

Most investors have already headed for the exits if they wanted to take any profit at all but there are a lot of less skilled buyers who are already upside down.

And the graphic with the story shows that all the numbers are down pretty dramatically. It is a far cry, of course, from disaster. Many bankers told Business Press last week that it’s gone from insane to just a strong market but there will be some buyer and investor distress and it’s clearly become a buyer’s market.