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CNBC's Jane Wells finds regular guy David Tuttleman, who feels good about buying a penthouse at the MGM Mirage's CityCenter - despite the project's many financial troubles. His unit was originally $2.5 million, but with the collapsing real estate market all prices were reduced 30 percent. Tuttleman, who owns a restaurant in one of the hotels, says business is challenging, but "it's really gonna be okay." After listening to Tuttleman for a few minutes, I almost believe it.
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
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Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.