As an American citizen by choice and a Las Vegas resident, I am partial toward both, actually when it comes to Las Vegas I am downright prejudiced as I LOVE LAS VEGAS. However, I don’t let my love for this great metropolis affect my analysis of the Las Vegas real estate market.
I truly value freedom of expression and after living in the United States for about 30 years, I understand that without freedom of expression, democracy is only a mirage. Having said all that, I still get upset when I see others take pleasure in our current difficulties, especially when a big project such as City Crossing encounters a steep decline in economic conditions and goes into bankruptcy.
People actually gloat and write about how “happy” they are that the owner bit the dust, that he deserves what is coming his way. Well, if it wasn’t for investors who took a risk and invested millions of dollars to build this great city, most of these people wouldn’t have a good paying job that can’t be exported to some other country for much cheaper labor.
One person wrote that he was happy that the World Market Center has not met it’s expectation in leasing their units because he thinks they are ugly and have ruined his view when he drives over the Spaghetti Bowl ramps. Never mind how much money this project brings in to the Las Vegas economy.
Where else in the world can a person with a high school education find a job that pays her/him $60,000 plus a year that doesn’t involve hard labor or dangerous conditions and have relative job security to boot.
My other question is what do these people gain from other’s misery? Nothing, except that misery eventually trickles down and will touch their life eventually.
The vast majority of Las Vegas residents have relocated here because Las Vegas gave them a chance for a better life and many have taken advantage of it. Las Vegas feeds us, shelters us, gave us a good job and world class places to visit and enjoy. Those Las Vegans who enjoy watching our current misery are not only short sided, they are disloyal.
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