Friday, May 30, 2008
Another gem from the housing crisis
When the history of the housing crisis is written, future generations will either think us insane, or believe us to be liars. Here's just one more example.
It would be profoundly uncool of me to swipe the Real Homes of Genius title used periodically at Dr. Housing Bubble's entertaining blog. But if this choice piece of real estate doesn't qualify for the category, than nothing would.
Teaser: The current listing price is $109,900, the last recorded sale was $620,000, and the home features an "adult entertainment room" in the basement.
It would be profoundly uncool of me to swipe the Real Homes of Genius title used periodically at Dr. Housing Bubble's entertaining blog. But if this choice piece of real estate doesn't qualify for the category, than nothing would.
Teaser: The current listing price is $109,900, the last recorded sale was $620,000, and the home features an "adult entertainment room" in the basement.
2 Comments:
By 
, at
Fri May 30, 02:59:00 PM:
Hmmm. Is it really only a hundred grand? (after talking them down)
By 
randian, at
Fri May 30, 03:14:00 PM:
I detect some serious appraisal fraud. Real property doesn't lose > 80% of its value absent 1929 levels of distress. I've seen some luxury homeowners lose hundreds of thousands of dollars in value, but not that much value.
