The Real Deal Miami

Western vacation spots in big trouble

June 24, 2008 10:34AM

Vacation homes sales are down
nationwide, causing financial trouble in many crowded Western residence clubs like Nevada’s Lake Las Vegas golf resort and
Montana’s Yellowstone Club. In Las Vegas, a quarter of all housing
sales have become short sales,
selling for less than the mortgage is worth. On the Las Vegas strip,
24,700 condos are on hold or canceled, according to research firm
Applied Analysis.