The biggest foreclosure blunder in US home history?
The City Center, a $9.2 billion condominium/hotel development on the Las Vegas strip sure has all the signs. Overall, Las Vegas real estate in dire straits - home prices fell nearly 40%. The $2 billion Cosmopolitan hotel development is in default and the $6 billion Las Vegas Plaza is being delayed. But the City Center, which is the largest privately financed development in the history of the United States is going forward.
I could never understand why people want to live in this desert hole, located mere 65 miles south-east from Nevada Test Site. You know, the one where between 1951 and 1992, there were a total of 928 announced nuclear tests. But then again, I can't understand many things ...
Mon Jul 21, 2008 03:07PM by Tony | More in Economy | Comments (0)
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