Mansions Go Under the Gavel

Quote from vhehn:

got to call bs on that one. unless they are incomplete.
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I'll find it eventually, but this should tide you over:

Buyers flocking to cheap foreclosed homes

http://www.azmortgages.net/article1.htm

by Catherine Reagor - Mar. 22, 2009

The Arizona Republic

A Glendale home that sold less than two years ago for $259,000 sold again three months ago for $113,000. A Phoenix home that fetched $190,000 two years ago just went for $45,900. A Queen Creek home sold for nearly $275,000 when it was built in 2005. Last month's price: $78,000....
 
Quote from ByLoSellHi:

I'll find it eventually, but this should tide you over:

Buyers flocking to cheap foreclosed homes

http://www.azmortgages.net/article1.htm

by Catherine Reagor - Mar. 22, 2009

The Arizona Republic

A Glendale home that sold less than two years ago for $259,000 sold again three months ago for $113,000. A Phoenix home that fetched $190,000 two years ago just went for $45,900. A Queen Creek home sold for nearly $275,000 when it was built in 2005. Last month's price: $78,000....
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thats not the same as new never lived in 330k homes for 90k
 
These people wanted to have big totems to show the world how successful they were so they spent every nickel they had and borrowed on assets and then borrowed again just so they can be the big dog in town.

They probably impressed folks and everyone said "wow what a success"

Now the tide is down and the faux rich are naked from the shirt down. The emperor has no clothes.

Same shit happened during the last depression.
 
Quote from Dr. Zhivodka:

At one point in 1994 in Aspen the price on the ave home was 2.0 mil. Which at that time was unbelievable.

Now it's higher...

:D
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Aspen in Colorado, or Aspen in Sweden?
 
Near me there were new developments built over the last 5-10 years but most houses and condos have been built over the last 20-40 years, even new developments where condos were going for $400,000-$650,000 are still in the $300,000-$500,000 range, there hasnt been the significant downfall as other states, I mean some of the prices you guys are talking about are just crazy low.
 
Quote from S2007S:

Near me there were new developments built over the last 5-10 years but most houses and condos have been built over the last 20-40 years, even new developments where condos were going for $400,000-$650,000 are still in the $300,000-$500,000 range, there hasnt been the significant downfall as other states, I mean some of the prices you guys are talking about are just crazy low.
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Well, Deutsche Bank analysts are saying that by 2011, 48% of American Homeowners will be upside down in their mtgs.

And so it goes.....
 
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