Wednesday, October 07, 2009

MGM Cuts Condo Prices
Here is a Wall Street Journal article on MGM Grand cutting condo prices on its huge City Center project. Prices are being cut buy up to 30%. This makes some if people who plunked down deposits close on their condos. City Center is a monster project on the Las Vegas Strip - 67 acres - and is expected to open December. The project was on the brink of collapse earlier this year, which would have devastated a weak Vegas economy.

1 comment:

Best Mutual Funds said...

This is common. We have seen many big real estate companies are reducing the home / condo prices in order to minimize the losses, and hopefully this is the best method they can opt for until the ongoing global recession vanishes.