Vegas or Bust

Las Vegas: a cornucopia of excitement, casinos and activities that have inspired the catchphrase “What happens in Vegas stays in Vegas”.  With a thriving real estate market, a luminous ambiance, and an effervescent atmosphere, tourists continue to flock to the city to experience Vegas’ inimitable charm.

 

For whatever reason, a trend among travelers is emerging where vacationers are choosing to forego the traditional hotel stay and are instead choosing to complement their indulgences by investing in a permanent or vacation home.  It’s pretty safe to assume that the allure of “sin city” plays an important, if minor role.

 

If Las Vegas is so great, it kind of comes as a notable surprise that a publication like Maxim has placed Vegas at fifth and has instead given the honor to Miami.  Then again, it’s Miami and well, who doesn’t know about Miami?  In fact, one could argue that Maxim is simply basing their opinions on the fact that the city has great beaches and yes, this is indeed true.  But considering the lofty name they were up against, there has got to be more to its appeal than that, no?

 

Putting aside the criteria Maxim used to reach their conclusion, there do exist other factors in Miami’s appeal and why it could usurp Vegas’ position, its own real estate market notwithstanding.  For one, Miami has a significantly broad appeal.  Young adults venture off to the 24 hour celebrations on Ocean Drive and the downtown Miami area while retirees and baby boomers seem to have a certain affinity for the beaches located near ethnic restaurants and cafes.  The profusion and variety of things to see and do caters to an extensive range of age groups.

So Miami has been deemed the top party city by a magazine, that’s great but that’s not what makes this distinction noteworthy.  What is worth noting is the possible implications this could have in acting as another reason to visit and possibly invest in a condo or home in Miami and its neighboring cities.  Though it may be suffering from a less than desirable housing market, it could theoretically act as that last deciding factor that inspires a young home seeker to buy a “pad” in Miami Beach and elsewhere.

 

Las Vegas certainly isn’t going anywhere and this list won’t make any earth shattering changes in lessening the city’s appeal or its tourism industry.  It does nevertheless give one something to chew on in terms of the dynamics of how such things can affect a city’s real estate appeal, however slight it may be.