After 6 years here, I just sold my house and am moving back to Cali. Got incredibly lucky with the house I bought 3 years ago, rode the wave of it doubling in price, and now cashing out.
Even with the increases, real estate is still a bargain compared to Cali. You should able to get a great house - just make sure you get a pool!
Pollution - it gets worse here everyday. The dust elements in the air is actually worse than So Cal. Very windy lots of the time. Still, there are plenty of clear days with great views of the valley and mountains.
You already have a family - that's good, cuz I haven't found anyone I'd remotely consider for marriage and family out here ....well, except for tourists visiting from other places.
Bottom line, if you can handle the heat and dryness AND can control your gambling, there's lots of opportunity here. The city is still booming - you can get work in almost any field. No state income taxes are nice too. 24 hour everything can be nice - but also kinda dangerous.
Fletch is right about being on sort of a desert island too. Kinda feel trapped sometimes.
Shop around, spend some time in the heat, meet some people and then decide. It was a great city for me and my business. But my life goals are not going to met here. Time for me to thank this place for what it is and move on...