I'm reporting live today from MGM Mirage's CityCenter project, which is finally opening.
For the first time, I got to speak with one of the people buying a condo in the massive complex. David Tuttleman has no plans to abandon his purchase, a bright spot amid concerns that many buyers may walk away from their 20 percent deposits.
"The quality is second to none," says Tuttleman, who will soon close on a two-bedroom penthouse residence in one of CityCenter's leaning Veer towers. Tuttleman put down a deposit early on, when the unit was originally priced around $2.5 million. But as real estate prices collapsed, CityCenter feared contracts wouldn't close. So in October, it lowered all prices 30 percent, meaning Tuttleman's buying the $2.5 million unit for $1.8 million. He says he may even take advantage of the financing which CityCenter is providing through Pennymac (an interesting choice—Pennymac is run by the former #2 at Countrywide who left before things there got wacky).