3 ms·
The vegas strip is full of real estate stories where a major undertaking flops initially but gets turned around. The stratosphere was built, sold at a huge loss
by gosub100 3y ago
The vegas strip is full of real estate stories where a major undertaking flops initially but gets turned around. The stratosphere was built, sold at a huge loss, and then flipped for an enormous profit (I'm sure there's way more to the story that others are aware of). I wouldn't be surprised if the Sphere ends up the same. I'm really excited to see it, it's very cool thinking about the potential for promoting visual art.
- boringg 3y agoRight -- shed the early obligations and flip it. Early investors lose money turn around investors make money.
- bsenftner 3y agoSomething tells me there is a tax avoidance scheme whereby these investments are intentionally engineered failures that generate the financial manipulators shockingly high paybacks.
- boeingUH60 3y agoYou're reading too many conspiracy theories. Life is more mundane; investors bet money on grandiose stuff and some of their bets fail.
- gosub100 3y agoI was thinking the opposite: like it's some strange way to pay the "true cost" of the property, by first paying inflation-saddles prices, going bankrupt in the process and leave the first investors holding the bag.
- bombcar 3y agoIt's a mathematical certainty that there will always be real estate that is "self sufficient" without a debt load (or with a lesser one) but can't sustain the current load.
- whalesalad 3y agoSee Formula 1 for an actively unfolding disaster here.