Archive for February 5th, 2010

Catching a Falling Knife ??

Friday, February 5th, 2010

As the rest of the Las Vegas real estate market continues to stabilize, the drama surrounding the high-rise luxury condo sector continues to shake itself out. It’s still hard to believe that so many developers and banks completely misjudged the demand for this product to such an extent. Las Vegas is drowning in luxury condominium buildings that just make no sense based on the original numbers. Prices for units continue to plunge and a floor has not yet been found. Supply and demand can be a brutal arbiter when you find yourself on the wrong side of the fence. 2010 looks to be a very tough year for this “urban style” luxury product.