Media Reporting isn't Exactly Reality When It Comes to Las Vegas High Rise Condos (or Anything Else)

Fear sells. All the media outlets know this. That's why the evening news and just about everything you read in the newspaper is often bad. Our economy is bad... the Las Vegas high rise condo market is bad... real estate is bad... etc.

What you have to do is open your eyes and see for yourself how bad things really are. Last week, the Review Journal ran a story about how 800,000 people were expected to pass through McCarren International just for the Thanksgiving holiday alone. Fear - don't even think about parking at the airport, there's too many people traveling! Said director of aviation Randall Walker: "We don't think our over 14,000 spaces will be enough to meet demand this holiday season"

Sounds to me like a lot of people are traveling. And who travels? - That's right, people with money. I guess the economy isn't as bad as CNN makes it out to be in real life. And I know this firsthand. There wasn't an empty seat on the plane on my trip to the Northeast on Monday. According to Southwest, there won't be an empty seat on my flight back to Vegas either. Wow... America's really hurting, huh?

Then comes today's story about how bargain hunters are ruling "Black Friday" with shoppers getting up at 4:00am to wait on line for the stores to open. Sounds like a lot of people have money to spend this holiday season. MSNBC News this morning reported that the majority of Americans feel they are worse off today financially than they were 6 years ago when Bush took office. My guess is this survey didn't happen in any of the thousands of crowded shopping malls you see in every area of the country.

My point is this: you need to take the news with a grain of salt and instead rely on what you see for yourself in your everyday life. You have no agenda - the media does. And sometimes that agenda attacks the real estate market as well. How many times do we read or hear stories about how "dead" Las Vegas real estate is? Yet big-time investment groups continue to pour money into the Strip and Downtown Las Vegas with high rise condo development projects. You read about how bad everything is, but when you drive down Las Vegas Boulevard, you'll see countless high rise condo hotels and mid rise developments all around you.

Who are you going to believe? Yourself, or some Katie Couric wannabee? Remember that post regarding the Light Group's Spa Lofts project and other similar developments? Turn off the TV, drop that newspaper, and get into a high rise condo right now!