LAS VEGAS -- Alex Edelstein, CEO of Gemstone Development, one of Las Vegas' largest new homebuilders, has launched www.frothingdeveloper.com, a new blog designed to counter the media's perennially negative spin on the economy and the housing market. Initially inspired by what Edelstein believes are misleading and negative local Realtor statistics on Las Vegas home inventory levels, Edelstein created the site to expose the inaccuracies prevalent in today's news stories, and to provide a forum for the positive statistics and facts that get buried at the bottom of back page stories, if published at all.
"If you read and believe all of the negative stories in the traditional media and vulture blogs it's easy to get a skewed perspective on what's really happening in the economy and the housing markets today -- particularly in the local Las Vegas market," said Edelstein, "We'll go hand-to-hand with anyone who knocks Las Vegas' prospects without an understanding of our market and the real facts. We kept waiting for the media to pick up the positive news here and finally decided we needed to just get the word out ourselves."
The FrothingDeveloper name and the site's iconic logo were inspired by Edelstein's "rational exuberance," a play on former Fed Chair Alan Greenspan's famous line about irrational exuberance in the stock market. While other developers are shuttering projects and downsizing staffs, Edelstein is thriving on the perceived economic pullback, and savoring the leverage it gives him to get his costs down and his developments completed quickly. Not just a pundit, Edelstein actually puts his money where his frothing mouth is.
FrothingDeveloper provides homebuyers, real estate agents, and others interested in the economy and housing industry with a daily stream of statistically-backed articles highlighting the strength and future of Las Vegas' real estate market, along with clear explanations as to why the media has the story mostly wrong. Stories range from quick notes on new development in Las Vegas to hard-hitting deconstructions of negative articles from the London Times to Newsweek.
The site is located at www.frothingdeveloper.com
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