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

To: re3 who wrote (91576)	10/8/2007 4:29:01 PM
From: Think4Yourself	Read Replies (2) \| Respond to of 306849

Notice the buyers are NOT familiar with Detroit real estate, and don't understand the concept of "location, location, location" AT ALL? The buyers they interviewed will soon be parted with their money and left with worthless vandalized properties no one wants to rent or buy. Reminds me of the dingbat Europeans who bought abandoned ghetto houses in Buffalo NY sight unseen... or the Californians two years ago who were paying top dollar for worthless (and unbuildable) Texas scrubland, miles from any utilities, water, and main roads. Waiting for the rebound in Detroit real estate. Now THAT is funny! There's one born every minute. At least these guys aren't buying at the top. I can guarantee that the "flippers" at the end of the story are probably carrying a firearm when they go to work on their houses.