Who drives Vegas high-rise condo market?

Second-home owners and investors control about 60-75% of the high-rise condominium market here, estimates a local analyst. Some locals in the industry worry that investors can generate an oversupply of resale inventory, similar to the one they did in the single-family segment and the results of that we already know. Not a pretty sight.

Developers are taking steps to discourage speculators. One requires that a buyer puts down 30% and closes escrow. There are other ways to control flippers. At last reason takes over and developers are working to curb the speculator appetites that can ruin markets for everyone else. What's your view on this?