Saturday, October 24, 2009
Morons Still Investing In Shacks
Ever see a house hit the market and declare that it will never EVER sell, at any price?
Well I do so all of the time. But you know what, they've all eventually sold in this continually bailed-out *market*.
The above shack, not far from where I live, was put up for sale this past year.
It's a whopping 864 square feet; and it sold for $240,000 after probably starting somewhere in the 300s
But get this, as you can see above, it's basically ON A ROAD. And not just any road, it's right at an traffic lit intersection of a MAJOR ROAD as you can see by the painted turning lane. Coming into the intersection, from one side, the speed limit I believe is 45 or 50 mph.
Now there is a real shortage of cheap rentals in these parts, but still.