July 24, 2009
– Comments (7)
The entire housing crisis summed up in one house in Palm Springs. Check out the Property History section.
It reminds me of Dillan Radagin explanation with a hot potato game. one potatoe passed around is 25 toss it 26 toss it again and again and it goes up to 300 then the last person gets the potato is volia it goes back to 25. Where did all the money go. What money. It was just thin air and the bankers went home richer.
That makes sense. It was worth 35k 9 years ago, and it's worth 35k now. As many houses as they've built in Palm Springs, it's suprising that a house built in 1960 is worth so much.
This is possibly the all time best caps blogpost. It's the one about Liquidity crises on an unihabited island.
Mr. "Feb 2008" is obviously not the brightest bulb.
Who wants to live in the middle of a desert?
When were all those additions put in though, it could explain the increase in selling price at least.