High-rise the new trend in Las Vegas

A respect real estate seller, Stan Kates feels that
eventually all the 100 or more Las Vegas high rises
will be built over the next 5 to 10 years. The owners
and promoters may not be the same as today but there
is a tremendous demand for new units around
40,000-50,000 in Las Vegas and unless all these
projects are completed this demand will never be met.

Las Vegas is facing a resource shortage. There is not
much land left which can be developed into homes.
Second the prices of existing land are skyrocketing.
That's the reason why more and more builders are going
for high rises to get more bang for their buck.
Eventually how these projects get completed will
depend entirely on the financial savvy of the
promoting companies. Some of the projects are being
held together by the breadth of a hair and any false
move could that the owners would lose them.

Many experts feel that Las Vegas was not even coming
close to meet the booming demand for its real estate.
Foreign investors are buying up Las Vegas units like
they buy commodities fuelling the demand ever more.