Vegas luxury condo market feels the pinch

The luxury condominium market was also expected to feel the adverse effects of this uncertain mortgage and real estate environment. And it undeniably is. Some projects have been canceled outright and some are on hold for now, obviously waiting for the financial conditions to improve and the rising construction cost trend to stabilize. This closely mirrors the single-family sector that has been soft for a while.

Through the second quarter of this year there were about 14,000 condos under construction, reports Applied Analysis, a Las Vegas financial consulting company. Please click on the link on this paragraph to read the entire article.