You be the Judge

transformer_99

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Just another perfect example of the Bush economic policy & fraud of the last 8 years. Prosperity based on bullshit. Even sadder, we're bailing this foolishness out, throwing hundreds of billions to maintain the false value of that piece of property. The saying goes in FL,

"If you believe that place is worth $ 103K, then I have a bridge in the everglades I'd like to sell you".

Only this is the bridge in the Arizona desert, or an Alaskan bridge to nowhere ?
 

canuck_pa

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I would do some investigating first. Eventually the mortgage mess will be cleaned up and the economy will improve so depending on the location and value of the homes around it in the long run it could be worth a great deal more than $ 103K The average price of a tear-down where I live is $ 750,000

Of course the real story is that banks were allowed to lend people 100% of the cost of a home without the ability to make payments and with an escalating interest rate. As part of the bail-out every senior person in a bank should have been booted out on their ear as should all the car makers executives.
 
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68306

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If it was in the middle of my proposed railway or airstrip, yes. :D
 

Honey123

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In that part of town during the big financial boom shacks like that were being bought up like crazy by investors. They would try to get large tracks of land and tear them all down to build a new subdivision.

We are in the midst of a downward spiral and most of our troubles were caused by the kind of greed demonstrated by the fools that gave mortgages on shacks.