[airics]

could be ghost-town, but 93% sold per the sales rep in the mandarin unit....

[ClarkGrisowld]

They reported a little over 50% sold in their July earnings conference.

$1500 a square foot. More than NY. Everyone who buys will get hosed unless they hold onto it for 100 years.

[olecapt]

Originally Posted by ClarkGrisowld

They reported a little over 50% sold in their July earnings conference.

$1500 a square foot. More than NY. Everyone who buys will get hosed unless they hold onto it for 100 years.

It is amazing. Almost as bad as time shares...and we have been selling those like hot cakes for the last 30 years.

[talktobrent]

I think it's a little confusing because some posts seem to say there's businesses in City Center, which there of course is, but they are services like retail, restaurant, entertainment, etc. (the Crystals mall). I believe they originally planned for some sort high end office component to actually try to create a sort of living/working/resort city within a city, but that was long dropped. Correct me if I'm wrong, that's just what I heard.

[returnoftheyeti]

Originally Posted by olecapt

It is amazing. Almost as bad as time shares...and we have been selling those like hot cakes for the last 30 years.

Why are time shares a bad deal?

[jfkIII]

Originally Posted by talktobrent

...I believe they originally planned for some sort high end office component to actually try to create a sort of living/working/resort city within a city, but that was long dropped. Correct me if I'm wrong, that's just what I heard.

Walt Disney had envisioned the same thing with EPCOT (Experimental Prototype City Of Tomorrow). When he died, they also abandoned the concept as not feasible, and EPCOT simply became a World Showcase.

[airics]

i think timeshares are a bad deal because of the dues, they almost equal what you would pay at a hotel..... if you buy them from the builder, you pay way to much.. if you buy them second hand, maybe you can get a better deal

[olecapt]

Originally Posted by returnoftheyeti

Why are time shares a bad deal?

Times shares often sell for 10X their free market value...sometimes more than that. Some Timeshares you cannot give away...the annual payments exceed their utility so you have to pay someone to take them.

There are time shares that I think reasonable. If you buy a fixed week fixed unit in a location that you will use annually it can be a good deal.

Few of those in the last ten years.

[orca17]

Sticking feathers up your butt does not make you a chicken.

I may have to borrow that line.

Your post pretty much summarizes the way I feel about the plethora of condo towers going up on and near the Strip. People are being sold a lifestyle that, they will soon find out, is much different than the sales pitch, or anything they envision. The idea of living and working in the same complex is appealing on the surface, but the reality is that sooner or later you will have to venture into the rolling parking lot known as Las Vegas Boulevard to do something as simple and necessary as buying groceries. That job downstairs may totally evaporate, leaving you to find work in a totally different part of town. Also, that view you are being sold is impressive - until they build another condo tower right next to yours, and that is about all you can see out the window.

[airics]

i think that if you can actually afford one of these places, such as city center.. money is not an issue to you.. these people are going to use them for corporate gatherings, vacation spots, etc.. I doubt you would see a family living in city center.