Tuesday, January 20, 2009

Howard Hughes Business Plaza CES 2009 266

During my trip to CES I spent time walking the route between Paradise and the Strip which led me throught the new buildings along Howard Hughes Drive, Las Vegas.

The area was eerily quiet and empty even during business hours and I got the idea (still not confirmed) that most of the beautiful and huge buildings were vacant, a product of a US and Las Vegas commercial real estate boom that that has now busted, leaving the CityCenter project in limbo and these buildings unfinished.

I still need to check some stats to confirm as there were some lawyers and real estate offices here and perhaps these are just really nice huge offices without much staff, but I think this is a vision of what is hitting all of the country hard right now - economic deleveraging at an unprecedented pace.