21 Year Supply of HIgh Rise Condos in Las Vegas

The Las Vegas Journal Review reports:

With an average of 22 high-rise closings a month, Las Vegas has a 250-month supply of inventory, or about 21 years, the president of SalesTraq research firm said. In comparison, the supply for traditional homes on the market here is between two and three months.

"I'm not passing judgment of what's good and what's bad. I'm just saying we have a 21-year supply," Murphy told about 100 real estate professionals at Cili's restaurant.

Heh.