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Bloomberg News and the National Association of Realtors have both put out news today about our evolving real estate markets – we think the national media is finally waking up to what is happening with our Las Vegas Foreclosure Market.
National Media Indicates Affordability is Driving Growth
As the national media is pointing out, affordability is starting to drive the Las Vegas Foreclosure market – we now have a 2,500 square…
European gypsies taught me an old saying they learned from the ancients while talking around the fire, “the dogs bark but the caravan is always rolling on” – meaning, everything in life is always changing and the “dogs” are always talking about it. Substitute today’s national media with the “if it bleeds (red ink in our case) it leads…..” articles about our the state of the Las Vegas real estate…
MGM Mirage has just announced that it has received $1.8 billion in credit from a group of banks so it can move forward to completion with it’s huge City Center Project containing hotels, condominiums, retail stores and several restaurants.
However it needs an additional $1.2 billion to complete the project. The MGM Mirage has also renegotiated terms with an existing financial entitiy to raise its debt to equity ratios to give it more…