Saturday, October 4, 2008
Repo “bargain” dumps at auction
I like how the media portray these dumps as bargains to be snapped up at auction, not pointing out they were over 100% over-valued in the first place and only gullable mugs who listen to Krusty & Pfhil bought them. This really shouldn't be an analysis piece, as no real analysis has been done. "Repossessions are rising sharply, forced sellers are desperate, and the vultures are circling. Homes bought for £500,000 just three years ago are going under the hammer for little more than £250,000."