TIME.com: Vegas Condos Go Cold -- Page 1
Sorry about this, but...
Now that several high rollers in the Las Vegas condo-hotel game, with properties linked to the likes of Michael Jordan and Ivana Trump, are either folding or selling their holdings, a growing number of players are losing their taste for big bets on high-rise residential real estate development.

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One lurking issue is the rapid increase in the cost of construction materials due to enormous demand from New Orleans, China, India, and Iraq. A friend of mine in the construction business says the cost of materials has gone up 30% in the last year or so, and it's still climbing. Some builders are buying and hoarding now for future projects, which is making prices even higher now.