Las Vegas real estate crash and economic collapse #36. Condo dreams have vanished.

[ExtremeCrewForever]

I think ppl jus don't wana come out du. They r either busy working, at school, traveling, & busy with their daily lives.

[Anothercoilgun]

UUUUUGLY condos.

[Anothercoilgun]

Ground -1 of the collapse.

[abbittibbi1]

Why?

Why more empty lots...streets...infrastructur­es...houses...stores. With prices peoples can't pay on a land people can't live off. This is the desert......

Meanwhile, on Capitol Hill, they are arresting(to say the least) people selling lemonade for 10 cents a cup.

What do I know?

Run to the hills....when madness is everywhere.

[DrScopeify]

@abbittibbi1 They though this would all be centers for High Tech companies, startups, professionals, lawyers, accountants. Nope, they got no one as they are missing the most important piece of the puzzle. NO BANKS!!! You can't start a business without money and most companies are started with bank loans.

[abbittibbi1]

Thank you.

[EconCat88]

Frankly, I think the empty office buildings are just as, if not more ridiculous than the condos.

[oddfellowsbooks]

Looks like we're heading for a MAD MAX nation soon with all this economic depression. I'm looking at buying a house for nickels when the final collapse happens.

[itillbeme]

Yes how much is the association fees for living in these precious lofts in the desert. Just curious, I might be buyer.

[mja2035]

This is beyond crazy, who the hell signs off on this insaneness.

[jettenjetta]

youtube.com/watch?v=sr-Bp78tAe­g

here is a video of the place what it was supposed to look like finished and the information on it. 

[punctuationmarc]

Why would people pay a premium to live in one of these horrible, housing project style, multiple unit complexes in a part of the country that has no shortage of available land? I mean, I can see having to live in something like this in a high population density North Eastern city, but out in the middle of the empty Nevada desert? What's the point? I could build a much better QUALITY, free standing home for half the cost of one of these communal press-board palaces.

[jettenjetta]

The website for that loft is not working. Shows they started to build them in 2006,

[jettenjetta]

Them condos where featured on cnn, msnbc, Lots of videos on here of them condos.

[punctuationmarc]

Ok. That first condo development? Gross, uninspired architecture that does NOT fit in with the environment.

Pair that horrendous government/bank building, wannabe Greek and Colonial mash-up architecture with the low-rent look of the construction and you have a real eyesore. "Majestic Greek columns made in prefab pieces, with lines across them? Ugh...it's like "rich looking" on the cheap!... I guess there's no accounting for taste in Vegas, but this is over the top disgusting!

[jvolstad]

You know what they can do with those empy condo's? Donate them to the Fisher House Foundation. The FHF provides temporary housing for the families of wounded warriors as they undergo treatment at the VA. KB Homes? New home slums. There are 18 Las Vegas area KB subdivisions per their website.

[grippygrip]

I found another youtube video of the inside of Vantage with some interesting comments as well>>>>youtube Vantage Lofts by GoadTeamcom

[grippygrip]

I just did a "Google" on the Vantage development and the developer halted work in 2008 and filed for bankruptcy after stiffing $17 million to subcontractors. The loft were to sell at $450,000 to $1.6 million or $450 a square foot. It was scheduled to be completed by early 2007. Twenty buyers (suckers) remained under contract.

[kurt2022]

Chicken coups, oh I mean lofts, right out in middle of the dessert, with not a tree in sight! I guess all I can say is that there is a sucker born every minute of every day and I hope Las Vegas has a royal flush of suckers or "these rat traps" will never lure the first stinkin rat into them! Might give dirty Harry Reid a call and beg him for a liltle government cheese to lure them in!

[grippygrip]

@kurt2022 The thing is--even if the buyer (sucker) is handed government cheese to help buy the place--where are they working to support the mortgage. From the video there doesn't look to be much of an industry in the town other than service jobs which probably pay $10 bucks an hour. The developments are failures from the beginning

[bloodowrm]

Aren't those the lofts featured in the Las Vegas Sun some time ago as part of the real estate bust? Notice the huge windows, which are completly wrong for the scorching desert sun.

[grippygrip]

A loft in the middle of the desert! All that land and they think they can find enough idiots to spend hundreds of thousands to live in cubes side by side. It's unreal

[chuc555]

Too bad about the lofts, it must have employed a couple of hundred workers. . Looks like they just walked off one day and didn't come back.

[Taught77]

wow. the collapse is so obvious in some places but not in others.....only a matter of time though.

[stdre]

Vantage Lofts residents have the privilege of choosing activities that reflect their lifestyle. Day, night, or anytime in-between.

Outside, Vantage Lofts features a pet park, a negative-edge pool, a separate pool with waterfall, two large hot tubs, barbeques, wet bar and fire pits.

These lifestyle amenities, along with other well thought out conveniences, have been designed for how Vantage owners truly live.

[EconCat88]

@stdre

ROFLMAO thank you for posting that. I'm sure the homeowners behind the place love their current view.

[stdre]

Terraced into the slope on the hills of Hendersons Black Mountain, Vantage is your window to the "Strip." With glass walls that climb as high as 20 feet, most units present breathtaking views of Las Vegas, the surrounding cityscape and picturesque mountains. The lofts seem to float above the desert floor offering a dramatic vantage point of the legendary lights below.

[grippygrip]

@stdre Well as it looks now, the residents of Vantage have the privilege of playing in the sand! Again, if these places are even half filled within the next decade I'll be surprised.

[itillbeme]

@stdre douche bag

[killman1971]

Arizona Public has done some videos where new homes west of Phoenix are being built for about 1/2 of the price of 2007 era homes. D R Horton was the name of the builder in one of the most recent new subdivisions. Homes like the ones around 7:30 were around $130-150k and people were buying them like crazy (probably paying 20-30% over foreclosure price but you are in an occupied neighbor where junkies are not breaking into vacant homes scrapping out everything that they can get their hands on).