Thursday, Feb 28, 2008
How much do you think this would sell for?
CNN: Filthy house beyond hope
Just watch it.
Posted by little professor @ 07:18 PM (339 views) Add Comment
5 Comments
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1. paul said...
That's one of Greenbay's buy to let properties!
2. quiet guy said...
Sorry little professor but I think this post is of little relevance. To me, this story is more about the occupant's mental health than the housing market. Your effort seems all the more misdirected in that there are lots of relevant issues with unoccupied repossessed homes in the USA. In some US neighborhoods, there are so many repossessed homes that the overall effect on the character of the street is disastrous: weeds growing in lawns, damp progressing into housing structures, thieves breaking in to remove copper piping, swimming pools turning into stagnant mosquito breeders and probably many others depending upon the location. This particular stoy looks like an extreme case which has little to do with the American HPC.
3. little professor said...
I know it's not relevant to HPC, but it does make a change from all the gold-ramping stories we've been having recently:p
4. drewster said...
I think it's somewhat relevant. In the boom times, most houses on the market are in good condition. Sellers can use Mortgage Equity Withdrawal to fix up the homes before selling them, and everyone thinks they're an amateur property developer nowadays.
In HPC, values are falling and credit is unavailable. This means sellers have no spare cash to fix up homes. Even if they do have cash, there's no point in spending thousands to do up a house if it's not likely to add much value. We can expect to see more tatty houses for sale in future.
5. Si said...
This post has highlighted one thing, the amazing ability for some people on this site to associate any old rubbish to house prices, literally!