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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: George8 who wrote (49931)3/10/2006 10:52:21 AM
From: Broken_ClockRespond to of 306849
 
Was talking with a retired fireman from LA yesterday. He was recounting how the old timers made it rich in the LAFD in the 30's buying up LA real estate with scrip from LA City. They couldn't get paid in cash but the scrip was good as gold. Eventually the City made good on the scrip. They would take big houses and cut them up into 10 room flats and rent each unit for $10/month.


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