I'm not in Vegas where you are, but no matter, only buy if you need a house, you want a house (two different things) and you can buy a house- that is, you have good credit and can qualify for one of the better loan programs; and make sure you stay close (+ or - 5%) to 25% of your net income for housing- principal, interest, taxes, insurance, and utilities. Other than that, do what you want to do, like a lot of people. No one can predict the future. But if you have faith that the lights will come on when you flip the switch, we can all make it, probably. Fear is a destructive thing. Have some faith.
Most forceclosed homes are on the market. Check a local realtor for finding out details on a specific address. Or, on the web, put the address in Zillow.com and see what comes up. Do it with Trulia.com and with Realtor.com.