Word: stripping
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...foot-or up to $1.5 million for a one-bedroom- at the peak. Buyers, mostly interested in flipping them for quick profits, eagerly anted up five-figure down payments, while developers planned more than 70 luxury towers holding a total of about 43,000 units on or near the Strip and downtown. But the intense competition for the city's limited supply of contractors sent construction costs skyrocketing 30% last year, just as lending policies tightened, interest rates climbed and sales started to slow...
...Experts now forecast that only a quarter to half of the six dozen originally proposed projects will ever be built. Brian Gordon, a principal at Applied Analysis, a real estate research firm, says the developers with experience building luxury high-rises, whose properties are located on or near the Strip and carry a strong and recognizable brand name- such as Donald Trump, Hard Rock and MGM Grand- are the ones playing winning hands in Vegas...
Voter sentiment was the same from the crowded cities of the Gaza strip to hillside towns in the West Bank: It's time to teach the ruling Fatah party a lesson. As Palestinians lined up to vote Wednesday in their first legislative elections in ten years, many said that their government needed a shakeup. Fatah, founded by Yasser Arafat and led today by Palestinian Authority (PA) President Mahmoud Abbas, is widely viewed as corrupt and incompetent. According to polls, around a third of all Palestinian voters now support Hamas, a radical Islamist group committed to destroying Israel but also widely...
...Hamas has also emerged as a major a political force, positioning itself as the chief rival to Fatah, the party of former president Yasser Arafat and current Palestinian president Mahmoud Abbas. In local elections last year, Hamas won control of towns and cities across the Gaza Strip and the West Bank. The group is set to increase its power in parliamentary elections this week, which would make it a crucial player in any future negotiations with Israel. "We have credibility on the street," says Hamayel. "People know we're not going to compromise our principles...
...support by providing a disciplined alternative to Fatah, which is seen by many Palestinians as corrupt, inefficient and unable to run a garbage collection service, let alone negotiate with Israel. Hamas has long run its own medical clinics, schools and soup kitchens for the poor-mostly in the Gaza Strip, its stronghold. In last year's local elections, Palestinian voters gravitated toward Hamas because of its reputation for having "members with a clean record," as Mayor Hamayel puts it, in a reference to Fatah's many corruption-tainted officials. Residents of towns where Hamas won control say they...