What to do with $125 million burning a hole in your pocket? You could by 372 homes at Portland’s average price of $335,700 (year to date) or you could buy Donald Trumps house- the one he doesn’t live in.
You can watch the youtube version here. Or the Forbes.com version here. Neither allows for embedding but the youtube one doesn’t have a commercial at the beginning.
If Trump’s pad is too modest, you might want to try Billionaire’s Row in London. At $117 million British Pounds (117 000 000 British pounds = 228.8052 million U.S. dollars as of now according to Google), this house is being purchased for the buyer’s son.
Just for fun: if you consider the block between SE Harrison and SE Lincoln at SE 43rd to be your “typical” Portland block with ten houses on it your $125M will get you 72 Portland blocks!
I’ll take the 372 homes.
Aloha,
Keahi
I thought this might be a post about if you had $699,000, then you could have 8549 NW Ryan, as it still has not sold.
Price Reduction Correction.
I thought this might be a post about if you had $679,000, then you could have 8549 NW Ryan, as it still has not sold.
Why hasn’t the property sold? Is it fair to say that you are way over the 1/2 market time? But seriously, what’s wrong? I’m still trying to figure out why there is a price reduction. As a properly priced property, there should be a buyer right away. What gives?
Choosing not to reply to haha regarding our listing. What gives is that he/she is a sarcastic arse and only damages this forum. If I say it hasn’t sold for reason A, the reply is going to be that it was reason B. I’ll let you know when NW Ryan is either sold or we no longer have the listing. It will no longer be a topic of this blog. It is a shame that when I try to bring a topic up that could be instructive to others there has to be someone else trying to destroy it.
Haha, please leave this forum NOW on your own will as you have nothing constructive to contribute or if you did, an utter inability to do so in a pleasant manner.
Please don’t blame me for your poor performance, and have a nice day.
Charles, looks like we’re only down 0.3% for April/May according to Case Schiller, just a seasonal bump, or are buyers feeling a little more motivated by something else besides good weather? I think they’re starting to see some value.
Up 0.3%, Mr. Thrifty. We’ve hit bottom and now we are heading back to 10% appreciation YOY!;O)
Wow, that is positive 0.3%, I was so ready to see a negative number I completely overlooked that! Now if we could only get interest rates under 6% on a fixed 30 year, we could totally climb the mountain before Christmas.
On a side note, is that Country Wide deal gonna take down Bank of America? The dividend yield is so juicy now, but what if all that 3rd and 4th quarter 07 mortgage paper is crud…. I just don’t know.
With the dollar continuing to tank I highly doubt interest rates will stay low, that is, if they wanna save the dollar…and then there is oil…if the dollar improves inflation slows, etc, etc…I am very curious to see how oil prices impact the ‘burbs housing prices…how much are you all paying per month for gas now? $500/month would be a good guestimate for the two car households.
We’ve cut back, only one trip to the beach thus far:O( and we are paying about $300/month in gas! We’ve got one gas guzzler at 23mpg and one economy at 32mpg.
And after I posted my last thought I read this over at NYTimes.com
Rethinking the Country Life as Energy Costs Rise
http://www.nytimes.com/2008/06/25/business/25exurbs.html?pagewanted=1&_r=1&hp
Basic household arithmetic appears to be furthering the trend: In 2003, the average suburban household spent $1,422 a year on gasoline, according to the Bureau of Labor Statistics. By April of this year — when gas prices were about $3.60 a gallon— the same household was spending $3,196 a year, more than doubling consumption in dollar terms in less than five years.
Now do the math with gas at $4.30…$3,818
“is that Country Wide deal gonna take down Bank of America?”
BAC has about as much chance of going down as the federal reserve bank (its “gone down” three times).
“what if all that 3rd and 4th quarter 07 mortgage paper is crud”
What if?????
Good grief!
BAC and a federal reserve bank have nothing to do with each other.
Second, if you haven’t read or heard anything regarding country wide changing its underwriting between August and December, then you have no idea what their 3Q and 4Q paper is gonna look like. So please just save responding with nonsense.
“BAC and a federal reserve bank have nothing to do with each other.”
Apart from the fact that they are like both …BANKS. It does not take a genius to realize that I was referring to the recent 30 BILLION dollar FRB-subsidized shotgun wedding. Can you name the parties, Thrifty?
Its extremely hilarious that you are thinking about dividends, Thrifty. Can I also recommend C. BAC and C are oversold so be sure to lever up REAL good, buddy.
“country wide changing its underwriting between August and December”
Its common knowledge that CFC has stopped foreclosing on homes to pretty up its sheets for their charming prince saviour, Ken Lewis. Pucker up Ken!
I love slow motion economic train wrecks as much as I like hearing real estate investors like Thrifty whinge.
That ain’t gonna happen here, JPM got hammered on that deal even though they paid nothing, and the size of the deposit base at BAC changes the story too.
I think things at Country Wide are far from clear, and the opacity of the equity picture won’t change until the second half of 07 gets figured out, which it hasn’t. Lehman pretty much had to say verbatim on their call that they had no idea what they were holding from 07.
If BAC can get their capitalization squared away, umm.. that dividend will definetly be worth worrying about.
http://www.housingwire.com/2008/06/26/alt-a-performance-gets-much-worse-in-may/
Due to their concentration in the bubble markets CFCs alt-a portfolio is among the worst in business.
“that dividend will definetly be worth worrying about.”
I would not be surprised to see the dividend cut.
Looks like CountryWide is being sued by the states of Illinois and California and pretty sure other states will follow suit. Wonder how this will impact the ‘buyout’.
I dont care if they cut it, I’m trying to figure out if they’ll have to make sushi out of it.