Las Vegas Real Estate Blog

I am not sure that I understand how some of the post are deleted from the site. I have seen many times posts that are similar to each other and frankly just copied and pasted form the major real estate news news publications, blogs and official sites... But this is going to be my next subject for a new post.

I am trying to stay away from the situation that would ban any of my posts. Unfortunately collective human mind works in a strange way. We find ourself talking and thinking about same topics specially if is a "hot news" that stimulates your mind.

The announcement about Dubai World entering in a second joint venture on Vegas Strip is certainly a "hot news" and worth the effort to talk about it.

Using the keywords "Dubai World" or "Vegas City Center" or "MGM Mirage" on Google search page you get hundreds of websites, blogs, articles, publication... all talking about the same thing and in about (oddly) similar language!  So I did not find that my blog crossed the boundaries... But SO BE IT!

HERE IT IS: Gaming giant MGM Mirage is entering a second joint venture with Dubai World ( a 5.1 billion-dollar deal ) half of City-Center project. (Don't go in detais about the specifics of the deal...from fear of having my post banned) Read details>>>

QUESTION: Why Dubai World out of all other international companies out there? Let's not talk about $ figures now and just stop and think for a minute... Even if it sounds an extraordinary business opportunity, is this a fact that there is no shortage of confidence in the Middle Eastern business community?

• Dubai plans on getting gaming licenses in Nevada and New Jersey. MGM Mirage executives and officials from Dubai World met with Nevada gaming regulators. Gaming Control Board Chairman said the deal would mark the first time a country had applied for a Nevada gaming license.
• Dubai World is in for the long-term... 

For more information :
Arina Hanciulescu
ELITE REALTY
7448 W.Sahara #106
Las Vegas NV.89117
702-856-6680
email: arina.lv@gmail
http://www.lasvegas-buyandsell-realestate.com

 

The US Federal Reserve cut American interest rates by a hefty half percentage point - its first change in policy for 15 months - in a bold move to shore up an economy faltering in the face of a slumping housing market and credit squeeze.

A jubilant Wall Street barreled higher Tuesday after the Federal Reserve cut its benchmark interest rate by a larger-than-expected half percentage point. The Dow Jones industrial average reacted by surging 335 points - its biggest one-day point jump in nearly five years.

• Meanwhile, the dollar tumbled to a new all-time low against the euro after the rate cut, because lower rates make a currency a less attractive investment.
• In addition to cutting the federal funds rate by a half-point, the central bank also reduced its discount rate, the interest it charges in making direct loans to banks, by a half-point.
• Is this the road to stabilization on the housing market? To early to know that... 

Sitting in the hot seat, Bernanke clearly decided that he couldn't afford to wait and see whether the markets would heal themselves. The half-percent cut is a blunt instrument, not a scalpel, but it's all he has at his disposal. Bernanke managed to get a unanimous vote from members of the rate-setting Federal Open Market Committee-a show of strength, considering that several voters had given speeches in the days before the meeting expressing skepticism about the need for a big cut.

According to Greenspan in a 60 Minutes interview...  he revealed yesterday that he dropped the ball during the birth of the Sub-Prime Mess.

Greenspan was very, very smart for a very, very long time. Did he really screw up? Is he now too old to be effective? I for one am not ready to write the guy off. He has a distiguished career, is an expert, a good manager of the economy, and served with humility and nobility. That is a good measure for any man.

It's hard to say that the guy really screwed up, it's not like understanding every intricacy of the US economy is an easy job, or one that's even possible for that matter. Historically, Greenspan's been right on, plus, the people in the trenches (the mortgage professionals) who say he should have known are forgetting one thing, they're on the front line...they're seeing exactly what's happening every day. The Chairman of the Federal Reserve doesn't. It's not like the banks were reporting that they were funding loans that were going to fail. From the outside, everything seemed normal.

What appears that most people missed during the sub-prime run up was the human element. The human element is that we are creatures of habit. If we practice poor financial skills prior to buying a home are we going to change those habits because we now own a home?