Via L.A. Land, comes this fabulously surprising advert:
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click for ginormous version:
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Source:
In Escondido: Buy one (house), get one free.
Peter Viles
L.A. Times, June 1, 2008
http://latimesblogs.latimes.com/laland/2008/06/in-escondido-bu.html
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"I believe that sex is one of the most beautiful, natural, wholesome things that money can buy." —Steve Martin
Excessive fiat money printing + negligible bond yields = asset price inflation. Just weeks after the most expensive painting ever, The Scream, sold at auction for $120mm and 6 months after the most expensive comic, Superman #1, sold for $2.16mm, the most richly priced piece of sports memorabilia sold for $4.4mm over the weekend. It was a circa 1920 Babe Ruth original game used jersey. The price exceeded the previous sports high in 2010 of the original rules of basketball written by James Naismith and the $2.8mm paid for the T206 Honus Wagner 5 years back. Whether its gold, comic...
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June 3rd, 2008 at 9:13 am
Nothing says open society better than ‘gated estate homes with RV garages.’
June 3rd, 2008 at 9:23 am
Will they throw in a set of Ginsu Steak Knives?
June 3rd, 2008 at 9:38 am
TANSTAAFL. I don’t believe for a second that you’re actually gonna get a priced-in-today’s-market first home in Royal View with the second home free and clear, with no payments. I’d like to know what those *terms and conditions* are.
June 3rd, 2008 at 9:39 am
so if you Just Walk Away from the one you buy, can you keep the free one?
June 3rd, 2008 at 9:53 am
Barry,
Make sure you add the catagory “Inflation” or prices to this post.
The price statisticians have been loath to recognize house price declines when the builders throw in free upgrades like a finished basement or pool.
How the heck are they going to adjust for a free house ? It’ll give them fits to price adjust for this. I’d love to find out what they do.
June 3rd, 2008 at 9:59 am
Royal View – I’m always stunned to see anything in this country labeled “Royal” as if it’s a plus somehow. It’s as if the War of Independence to throw off a distant monarchy just didn’t happen.
June 3rd, 2008 at 10:08 am
I got one word to solve these problems.
Bulldozer.
June 3rd, 2008 at 10:11 am
“Golf courses and cemeteries, the biggest wastes of real estate”
-rodney dangerfield
I like to add to that quote “homes with RV garages”
June 3rd, 2008 at 10:22 am
Unbelievable. They’re selling like bags of Cheetos now. If this isn’t desperation, I don’t know what is.
June 3rd, 2008 at 10:35 am
Attempting to both preserve the price of the upper end homes, while clearing the inventory of lower end homes(and further killing their values).
Why don’t you just run over the middle classes dogs too while you are at it.
June 3rd, 2008 at 10:38 am
“don’t miss this incredible INVESTMENT opportunity.”
add that one to the list of pundit shills.
I think Cityscape (half built at the time) burned down a few years ago. Boy that was bad timing to re-start it.
A neighbor of mine works for this development company…I wonder when his Jeep (with the name plastered all over it) will be repossessed.
“it has never been done before and may never be done again”
Somehow I doubt that……look at the expiry date…May 31st..hurry!!!!
Ciao
MS
June 3rd, 2008 at 10:41 am
Ot: LEH is toast……thank god all of it’s problems are caused and related to shorts. Is Morgan it’s biggest counter???
Ciao
MS
June 3rd, 2008 at 10:52 am
similar ad in the KC papers. big suburban developer, making a happy face, says “we’re moving out the ’07 models and making great deals on the ’08s!” just like overpriced shoddy American cars.
June 3rd, 2008 at 10:55 am
“It’s never been done before and will never be done again.” Ha!
June 3rd, 2008 at 12:05 pm
stolen property (homes foreclosed by mortgage fraud, waste and abuse) are always sold cheaper.
June 3rd, 2008 at 12:07 pm
We drove through here last weekend on the way from LA to Ramona (which is about 40 miles from downtown San Diego on the edge of the high desert). The San Pasqual Valley still shows the scars of last years forest fire. It is a very beautiful area, which is in stark contrast to Escondido. The entire area is highly populated; most drive big trucks, have 4 cars, RV’s and boats. The entire way of life out there is built on cheap gasoline.
June 3rd, 2008 at 12:13 pm
Can I put my mother-in-law in it, and then walk away?
(thank you very much – I’ll be here all week)
June 3rd, 2008 at 12:50 pm
Barry,
I was in the meeting when we came up with the idea. We didn’t figure anyone would actually take us up on it but we knew it would get people talking and generate traffic. Never in my wildest dream did I think we would make it to The Big Picture.
June 3rd, 2008 at 12:58 pm
So David……any takers???
>>We didn’t figure anyone would actually take us up on it>>
reverse bubble mentality…..I suppose you never thought you would have to sell ice to eskimoes however that’s what you are doing here.
Good luck with the ‘bag
Ciao
MS
June 3rd, 2008 at 1:44 pm
Florida-where I live- is bad, but not that bad.
June 4th, 2008 at 2:07 am
I remember when Yugo (A Car from the 1980s) had sale buy one get one for a penny. I guess they’ve one uped the Yugo!
June 4th, 2008 at 5:02 pm
Well, with the Royal View houses *starting* @ $1.6MM (http://www.michaelcrews.com/New_Homes/sandiego/escondido/royal_view.html), and the only Cityscape places left are $400K (http://www.michaelcrews.com/New_Homes/sandiego/escondido/cityscape.html), I’d guess he’s still making something… Anybody know what an average developer’s profit margins are…?
June 6th, 2008 at 6:14 am
Compre una casa… y llevese otra de regalo!
El 2 x 1 ha llegado al mercado inmobliario en USA