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:
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.
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