I'm tired of you all linking $10m+ houses in the dumps of S.F. and calling it "luxury"

JackRab said:
There's a bit of a difference between housing in the middle of a large city San Fran CBD with more stable high paying jobs than something like Las Vegas, which rely mainly on the gambling industry. That gambling industry might also not be around forever, what if in 25 years time there's a new law banning gambling??? Could happen, then you're stuck with a mansion in the middle of the desert...

Also, the larger the house... the more maintenance. Mortgage payments aren't the only costs involved in a house... what are the aircon costs for that Vegas property you'd think? That will be a shocker...
More...
Nobody's gonna shut down gambling in Vegas for pete sake.!
.... Aussies.:banghead::confused:
 
Last edited:
JackRab said:
There's a bit of a difference between housing in the middle of a large city San Fran CBD with more stable high paying jobs than something like Las Vegas, which rely mainly on the gambling industry. That gambling industry might also not be around forever, what if in 25 years time there's a new law banning gambling??? Could happen, then you're stuck with a mansion in the middle of the desert...

Also, the larger the house... the more maintenance. Mortgage payments aren't the only costs involved in a house... what are the aircon costs for that Vegas property you'd think? That will be a shocker...
More...

Judging by this article http://www.missionac.com/blog-air-c...revealed-19-million-mega-mansion-utility-bill
a property in TX that size seems to run about $1 per sq ft. Texas has slightly cheaper electric rates than NV, so that $19k sq ft house might have a $21k per month electric bill. So the electric is about the same as the mortgage.
 
The Vegas gambling industry's biggest fear isn't a government ban, but online and out of state competition. That's is why they are switching to the family friendly entertainment style (Disney in the desert). Gambling isn't what it is used to be. In Atlantic City they closed down in less than 2 years a brand new super-duper hotel-casino, because there are just so many other choices for people living in the East Coast. Overbuilding doesn't help either.

http://philly.curbed.com/2016/8/4/12376514/trump-taj-mahal-closed-atlantic-city-casinos

"Revel (2012-September 2014)

The shortest-lived casino in Atlantic City’s history, Revel barely lasted two years before closing up shop. Local firm BLT Architects was the architect of record for a majority of the project, which featured 1,399 hotel rooms, 13 restaurants, two night clubs, and swimming pools. It was the tallest building in Atlantic City—and at $2.4 billion the most expensive."
 
Pekelo said:
The Vegas gambling industry's biggest fear isn't a government ban, but online and out of state competition. That's is why they are switching to the family friendly entertainment style (Disney in the desert). Gambling isn't what it is used to be. In Atlantic City they closed down in less than 2 years a brand new super-duper hotel-casino, because there are just so many other choices for people living in the East Coast. Overbuilding doesn't help either.

http://philly.curbed.com/2016/8/4/12376514/trump-taj-mahal-closed-atlantic-city-casinos

"Revel (2012-September 2014)

The shortest-lived casino in Atlantic City’s history, Revel barely lasted two years before closing up shop. Local firm BLT Architects was the architect of record for a majority of the project, which featured 1,399 hotel rooms, 13 restaurants, two night clubs, and swimming pools. It was the tallest building in Atlantic City—and at $2.4 billion the most expensive."
More...
Revel was a terrible casino. Terrible layout, terrible bars/clubs, terrible location (all the way near the end of the strip).
Not to mention that before they even broke ground for the Revel, the Sugar House in Philadelphia, The Sands in PA, and both Mohegan Sun and Foxwoods in CT were crushing A.C.'s rake.
Can't believe people and banks were dumb enough to finance that project.

Atlantic City needs a developer to save the city. Give FAMILIES a reason to go there. Something like a giant indoor waterpark open all year round.
 
Pekelo said:
The Vegas gambling industry's biggest fear isn't a government ban, but online and out of state competition. That's is why they are switching to the family friendly entertainment style (Disney in the desert). Gambling isn't what it is used to be. In Atlantic City they closed down in less than 2 years a brand new super-duper hotel-casino, because there are just so many other choices for people living in the East Coast. Overbuilding doesn't help either.

http://philly.curbed.com/2016/8/4/12376514/trump-taj-mahal-closed-atlantic-city-casinos

"Revel (2012-September 2014)

The shortest-lived casino in Atlantic City’s history, Revel barely lasted two years before closing up shop. Local firm BLT Architects was the architect of record for a majority of the project, which featured 1,399 hotel rooms, 13 restaurants, two night clubs, and swimming pools. It was the tallest building in Atlantic City—and at $2.4 billion the most expensive."
More...
Yep, Gambling in Vegas is way down..Steve Wynn is getting rid of the Golf Course @ the Wynn and developing a big lake and water park with an island.
https://lasvegassun.com/vegasdeluxe/2016/may/26/steve-wynn-obsessed-new-project-paradise-park-/
 
You must log in or register to reply here.
Back
Top