October 1, 2008


House Sells for $1.75 on eBay

(insert mortgage crisis joke here.)

posted by Deron Bauman in economics, internet 

comments

3 Responses to “House Sells for $1.75 on eBay”

  1. alek on October 1st, 2008 at 12:18 pm

    does the land come with the purchase?

  2. Deron Bauman on October 1st, 2008 at 12:22 pm

    I think so.

  3. Mike Dresser on October 1st, 2008 at 12:25 pm

    And probably the unpaid back taxes, required renovations to bring it up to code, and cost of demolition.

    Reminds me of how JP Morgan picked up WaMu for the fire-sale price of 2B, then promptly wrote down a 41B loss.

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