These days, with the advent of the internet, collecting
news can be such a quick and easy task. However, does that
necessarily mean the news is going to be accurate? Well, I
personally would like to hope so, especially considering
that I like to write about the state of affairs in the
casino gambling industry. So, when I came across a news
article published in the Las Vegas Gaming Wire that said
condo sales were up in Las Vegas, I squinted my eyes a
little, raised my chin, and silently asked myself, "How's
that possible".
If you're up to date on the status of the housing market
in the U.S., you will know it has drastically fallen this
last year. And things really don't appear like they are
going to get much better either. At least for now. So then,
how is it that approximately 50% of MGM Mirage's Project
City Center luxury condos have sold out in a year's time?
Well, according to analysts, the reason is because we're not
talking about the regular residential housing market here.
Oh yes, that's right. We're talking about the high-end
residential market.
Chalk another one up for class distinctions I suppose.
So, while the greatest amount of foreclosures plagues the
U.S. currently, the high-rise condos on the Vegas Strip
continue to sell like hotcakes. Things that make you go
hmmm? Well, I certainly support the success of MGM's Project
City Center. I stayed at the newest lot of condos at MGM
recently, and have to say that I was highly impressed.
Although it's a little bit of a trek to the casino, the
people movers and some good conversation with fellow casino
compatriots makes it tolerable. As for the amenities and
service, it's top class.
So now we turn our attention to the Harmon Project
- MGM's last condominium units to hit the market. Oh, and
did I mention they are also the most prized of the bunch.
They say location is everything. And considering these one
and two bedroom condos are the closer to the Strip than all
the other Project City Center properties, there's a good
chance they will also continue to sell like hotcakes. If you
are interested, they are selling between $1,500 and $2,600
per square foot. Maybe I should first tell you about a good
progressive jackpot. Seriously, I'm not joking. Give Golden
Palace a shot.
Originally published:
January,
2008 | Categories:
Gambling
