Nov. 20, 2006 - gluttony without turkey or pie / new condos in Miami, Las Vegas and Manhattan
my excess is bigger than your excess
That NY Times piece Sunday, Changing Course to Avert a Glut, provides some comparative data about condo development in Manhattan, Las Vegas and Miami (on the theory that we all feel better when others feel worse, I guess).
First some context from the US Census Bureau website about the number of people, number of households, and the breakdown of rental households against owner occupied housing, using the 2005 estimates (available on the Fact Sheet for each county or city):
|
|
population
|
Total households
|
Rental households
|
% renting
|
Households owning
|
% owning
|
|
Miami–Dade
|
2,300,000
|
834,800
|
488,681
|
41%
|
346,119
|
59%
|
|
Las Vegas
|
539,000
|
204,688
|
84,053
|
41%
|
120,635
|
59%
|
|
Manhattan
|
1,600,000
|
731,439
|
564,721
|
77%
|
166,718
|
23%
|
83,000 can be a much larger number than 82,000
With this context, the 83,400 condos under construction or planned in Las Vegas is a rather staggering number, much more so than the 82,486 in Miami (assuming the Times is talking about Miami and Dade County) or the 28,358 in Manhattan.
Talk about rolling the dice….
© Sandy Mattingly
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