KNAU-FM: Jude Joffe-Block

As soon as you step in the elevator of Las Vegas' new Mob Museum, a cop on a video monitor reads you your rights. When the doors finally open, you're greeted by a huge photo of 1920s-era gangsters standing in a police lineup, wearing fedoras.

Investors from Asia are taking advantage of housing prices that have plummeted in recent years, buying foreclosures and short sales at below what it would cost to build them.

Kevin Chu's Hong-Kong investment firm owns property in Las Vegas, but he's never seen any of it. So his first visit to the U.S. is to inspect the houses in Las Vegas.

In the past 18 months, the firm he works for, The Creations Group, bought up distressed homes all over the U.S. — including 13 Las Vegas houses at fire sale prices.