Overvalued Real Estate

Posted by: Peter Coy on April 10, 2006

We scan the blogosphere so you don’t have to.
LAblock.jpg
Check out a great little blog called America’s Overvalued Real Estate. The top item right now is about a 299-square-foot house (right) that’s on the market in Los Angeles for $200,000.

TrackBack URL for this entry: http://blogs.businessweek.com/mt/mt-tb.cgi/

Reader Comments

bill

April 10, 2006 10:39 PM

Falling out of my chair laughing!

Lemming

April 11, 2006 12:26 PM

I'm sure some Lemming will buy it, because it seems like there are plenty to go around!

Nubricks

April 11, 2006 04:42 PM

Bargin...I know very little about this market but can see that this price is ridiculous!

Scary thing is there is a buyer for everything.

AG

April 12, 2006 09:24 PM

Is that a special upper deck burial grave! Cause as I see it, only a coffin can fit in there!

Crazy!

wendy

April 16, 2006 07:29 PM

People are not buying houses because they just simply cannot afford it!!! A home is not an investment. It's a place to live and I would rather pay rent and save my money to go on vacations than buy a piece of crap like this one. I think we should all boycott the real estate market:-)

Milan Cole

May 8, 2006 09:02 PM

The craziest part is that there is more where that came from! A New York Times article just found that the top 11 most unaffordable markets are in California, with New York City at #12. Is Salinas, CA really a hotter place to buy real estate than New York City?

Bryce Mason

June 5, 2006 11:59 AM

The real news story here is that this blog and a few other housing bubble blogs have been hijacked by some fearful Realtor(R)! Check it out!

Rufus

June 6, 2006 10:09 PM

I noticed that hijacking -- how did that happen?!?

james

August 23, 2006 05:08 PM

I think that the realtor for this storage shed[I recently purchased one in Sutherlands Building supply of like proportions for 879$,nails included] meant to say 200,000 PESOS,which roughly translates to 20,000 Dollars.

Thank you for your interest. This blog is no longer active.

 

About

BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

BW Mall - Sponsored Links

Buy a link now!