AN OASIS IN A WORLD OF HACKS, HUSTLERS, AND HIRED SPIN
posted by The Cunning Realist at Monday, October 31, 2005
"I feel totally safe playing polo on a field full of pros," says the bronzed 58-year-old. "But when amateurs are all over the field, someone can get killed. They have more guts than brains. They charge after every ball and don't know when to hold back." It's the same with the U.S. real estate market right now: "There's too much money chasing too few good deals, with too much debt and too few brains." The amateurs are going to get trampled, he explains, taking seasoned horsemen, who should get off the turf, down with them. Says Barrack: "That's why I'm getting out."
If he's not careful, he's going to get bought up by this guy named Eminent Domain. Making Vegas pretty for whoever will be filling Siegfried and Roy's shoes in the years to come strikes me as a perfectly valid reason for just taking the guy's house.
The guy probably wouldn't mind if someone invoked eminent domain right now. It's not like he doesn't want to sell the house. If there was a taking, he'd get compensated at the market value of the land and he'd save on the broker's fee. Though his legal fees would eat into that a little.
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I am a New York City resident in my forties, an investment professional, and a conservative. I have an MBA from Columbia University.