What do houses really cost?
Here's another one of those stories that suggests even the rapidly dropping home prices are overstated. As at the height of the bubble, people are offering big incentives, like these folks who offered their car (not so original, and in this case, not so great... a 2000 Mustang?). Of course, the price of these givebacks doesn't appear in he home price, but they're certainly a factor, meaning wherever they're used and not netted out, the home price is inflated.
Just another reason to distrust those rosy housing outlooks.
Mark and Elaine Hendricks recently offered their 2000 Mustang convertible as a freebie to anyone who would buy their Woodbridge house, but even that failed to distinguish it from the roughly 700 other homes for sale in their Zip code.