Housing Bubble Bursting Effects

This is a home in my buddy Dave’s neck of the woods. Comes with two lawn chairs! Man – with those lawn chairs – you have to buy it.

We Salute You Riverside

Sale History

12/19/2006: $325,000

Okay, so we now have that bubble price for perspective. But let us take a look at the manic pricing action on this place:

Price Reduced: 10/01/07 — $309,000 to $299,000
Price Reduced: 10/09/07 — $299,000 to $289,000
Price Reduced: 10/15/07 — $289,000 to $279,000
Price Reduced: 10/23/07 — $279,000 to $269,000
Price Reduced: 10/31/07 — $269,000 to $259,000
Price Reduced: 11/09/07 — $259,000 to $249,000
Price Reduced: 11/14/07 — $249,000 to $239,000
Price Reduced: 11/21/07 — $239,000 to $229,000
Price Reduced: 11/28/07 — $229,000 to $209,000
Price Reduced: 12/05/07 — $209,000 to $199,000
Price Reduced: 12/26/07 — $199,000 to $189,000
Price Reduced: 01/22/08 — $189,000 to $179,000
Price Increased: 02/11/08 — $179,000 to $236,000
Price Reduced: 03/06/08 — $236,000 to $149,000
Price Reduced: 03/10/08 — $149,000 to $129,000
Price Reduced: 03/13/08 — $129,000 to $109,000

Bwahaha! So in 6 months, we went from $309,000 to the current $109,000. The person that bought in 2006, you know ancient history, can now buy 3 of these same homes in the same area.

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