Thursday, April 17, 2008

Vacant Homes in U.K. Prove Speculator Nightmare

Vacant Homes in U.K. Prove Speculator Nightmare as Losses Mount

Bloomberg - Richard Lee spent 5.3 million pounds ($10 million) buying 20 rental homes across the U.K. with just 150,000 pounds of his own money. Today, the properties are worth about 60 percent less and owned by the banks that financed the purchases.

Posted by leeds-bozz @ 03:36 PM (396 views)
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