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Same article in papers thousands of times, always deliberately confusing LAND VALUE with house value

By Patrick following x   2018 Apr 11, 4:46pm 250 views   4 comments   watch   sfw   quote     share    


It's amazing how many times the same article can get printed, just with a different address and different price. In every case the story is the same:

* Look at this shitty run-down house!
* It sold for (insert large price here) dollars!
* Unstated theme: You should get very deeply into debt right now and buy a house! It can only go up!

This gets people to talk a lot about how crazy high the housing market is, but what they don't talk about is that the house itself actually has a negative value. The land would be even worth more if the house were not there at all. The price was the price for the land alone. And the price for the land is comparable with similar sized lots nearby. But that's not very exciting.

Here's the latest one:

http://www.dailymail.co.uk/news/article-5605113/Burned-shell-home-Silicon-Valley-hits-market-astounding-800-000.html

I'm just going to keep listing them here since this has been going on for at least 20 years and corrupt reporters just keep on taking the payola and printing them in order to deceive the public into enslaving themselves with maximum mortgage debt.

Please send more. This is going to be fun.
1   Patrick   ignore (0)   2018 Apr 17, 3:38pm   ↑ like (1)   ↓ dislike (0)   quote        

Same article, different address, again ignores the land value and hypes the bad condition of the house as if that indicated something.

http://www.dailymail.co.uk/news/article-5625631/Condemned-Bay-Area-home-sells-1-23million.html

Remember, the land would be worth more without the house there, so the condition of the house is irrelevant, and yet it is always made the centerpiece of the article.

Please send more like this. Let's point out the same deception over and over.
2   pwagner   ignore (0)   2018 Apr 17, 3:57pm   ↑ like (1)   ↓ dislike (0)   quote        

Don't forget this Sunnyvale beauty. 848 square feet, 50 years old, and sold for $2 million.
https://sf.curbed.com/2018/3/2/17073100/silicon-valley-house-home-sunnyvale-record-price-crisis

A burned down house might be preferable in this case, as you might not have quite as much regulation during the tear-down.
3   Patrick   ignore (0)   2018 Apr 19, 4:37pm   ↑ like (0)   ↓ dislike (0)   quote        

Same fraud as in original post republished yesterday:

https://www.sfgate.com/realestate/article/Willow-Glenn-San-Jose-real-estate-fire-home-burned-12846179.php

Realtors jerk off to the thought of so many stupid people who believe the price has something to do with the condition of the house instead of the land alone. There are boatloads of money to be made skinning such people alive.
4   Patrick   ignore (0)   2018 Apr 19, 7:08pm   ↑ like (0)   ↓ dislike (0)   quote        

Same fraud yet again, deliberately misleading readers into thinking that a rotting house selling for a lot of money means the market is hot. In reality, the price is for the land alone. The house is completely irrelevant and in fact lowers the value of the land.

http://www.foxnews.com/real-estate/2018/04/19/condemned-california-home-with-holes-in-roof-mildew-sells-for-1-23-million.html




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