Saturday, January 27, 2018

Good story of the 2008 housing recession

From a reporter who bought at the height of the housing bubble, then held onto an underwater property for a decade, and then finally sold at a $50,000 loss.  Love the last paragraph:
At a wedding I attended recently, I met a real-estate broker who touted the riches to be made by buying units in the glassy residential towers popping up along the waterfront in Brooklyn, where I live. No matter how slapdash the construction, she said, prices have only one direction to go.  
I had sunglasses on. She didn’t see me rolling my eyes.

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