Articles tagged with: city center project
Recession Blues Hit Investors Of City center, Las Vegas
Posted in Luxury on 8 July 2009
Posted in Luxury on 8 July 2009
The recession has hit almost every industry quite badly and the plight of the real estate industry is no different. Changes in the price of real estate have led to despair amongst land owners and buyers as well.
The City Center project in Las Vegas had been one of the most high priced developments in the country wih $8.4 billion being invested in the project. Changes in the price of real estate, however, account for a great deal of loss for those involved. Buyers reveal that with the fall in market value, they are now paying more than the building is worth and wish for the price to either be reduced or to be reimbursed for this loss.
