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Sign of Euphoria?


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2013 Sep 26, 9:42am   1,178 views  3 comments

by nw888   ➕follow (0)   💰tip   ignore  

I looked at this property months back and passed. Just saw it went back on the market 3 months after selling for $995,000. It's being marketed for its large lot, so obviously not a thing was done to it. It looks just as junky as when it was first listed. Now it's listed for $1,888,000.

Maybe someone in China will pay this ridiculous price sight unseen.

http://www.redfin.com/CA/Sierra-Madre/520-N-Michillinda-Ave-91024/home/7224346

http://money.cnn.com/video/news/2013/08/09/n-chinese-homebuyers.cnnmoney/index.html

Comments 1 - 3 of 3        Search these comments

1   Ceffer   2013 Sep 26, 12:49pm  

Probably signs of laundering and expatriating cash into redeemable commodities.

Getting it out in any form at all, even in lossy items, is better than keeping it at home and having all of it taken or crashed before you can flee.

Gives you real confidence in the world economy.

2   thomaswong.1986   2013 Sep 26, 5:24pm  

up 89% since prior sale in 2008 ($1M)... so much for the correction ?

3   nw888   2013 Sep 26, 7:22pm  

thomaswong.1986 says

up 89% since prior sale in 2008 ($1M)... so much for the correction ?

It sold in 2013. Up 89% in 3 months.

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