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Shack for sale… on about 0.03 acres of land.
That’s it. I am standing on the road, and the shack is on the edge of Fallen Leaf Lake.
12 responses to “Subprime Real Estate”
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> For the person who likes to swim and sleep.
This innocuous-looking abode might actually be part of the underlying of a (now non-performing) Mortgage-Backed Security, on which Credit Default Swap contracts might have been foolishly sold multiple times (the effects of naked shorts are peanuts in comparison).
The CDS market’s resulting aggregate size means that even a small percentage of claims would wipe out the capital and sink most US financial institutions, thus keeping worried people awake at night…
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Are you sure it is not the out-house?
If the road is quiet, I would be happy with the view. A place to meditate, write and create. A place where the only thing you can do is let your imagination and creativity work full time. Well, that is what I would do.
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Considering the drop in real estate prices, I think a lot of homeowners are in the outhouse, if not on the way out. Ou(t)ch!
Imran
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For some this is responsible living. No overly large track house here, just enough space for a couple of people. In many parts of the world, this would be considered nice housing…
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Great photo, please consider adding this and your other related photos to the new Housing Bubble group!
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Great photo! I used it to help highlight a blog post titled, 7 Beginner Real Estate Investing Mistakes to Avoid.
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Well, it’s a nice one, I have been looking for. Thanks for sharing such informative stuff.
Jannis
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