Trailer w/ocean vu, $1 million obo
Chicago Tribune | For sale: Trailer w/ocean vu, $1 million obo
Real estate has just gone crazy, especially in California. If I had known five years ago, about the time I moved here, that I could have moved to Malibu, bought a crummy trailer home for $150K, fixed it up a little, and sold it for close to $1 million today, I would have done that in a heartbeat! Oh my god!
What's even more surprising about this story is that somebody is actually lending money on these trailers; where I live, you can't get a loan on a trailer. We subscribe to Dwell magazine, which is this really cool architectural mag, and there are usually all kinds of interesting, mod, prefab homes featured in it every few months, so the idea of prefab housing is coming into a new era, to be sure. But just refinishing a crummy trailer and getting $1 million? Oh my god! I have to say it again.
I also have to say I now firmly believe that there is a real estate bubble. People have been coy about this topic. Some claim the burst is just around the corner, while others have made spectacular amounts of money. Just down the road from me, Las Vegas has gone plumb crazy, too. If we had moved there instead of here, we'd be super wealthy without having to do anything but own a home! Of course, in order to make money in this real estate deal, you have to sell. Most people don't like that idea, buying a house and selling it just for the money, especially women. We're all caught up in the idea of a home. But since my home is also a business, I am ready to sell at this point, and damn happy to do it so I can build a home somewhere else and own it outright. I just hope this all happens before the big bubble POPS!
My secret love is real estate, and I mean anywhere. If I was extremely wealthy, that's all I would want to buy. If, in my rich life, my husband bought me some expensive piece of jewelry or a new car, I would take it back, get the money, and go buy some land or a house somewhere. If I had big money in the form of a $1 million California home, I would be selling TODAY. Then, I would go and buy a house outright somewhere else, or buy a farm or a small town house, perhaps in a lot of different cities, pay my taxes and just travel. Because when that market correction comes, it isn't going to be pretty. The end will come when nobody on the bottom of this buying pyramid in California can afford to buy a house anymore. Without new buyers for the homes at the bottom of the prices, no one can move up, so to speak, and the bubble bursts. And then it will spread, very slowly I think, throughout the rest of the country. This day is coming; I have heard rumors that it will come within the next year. And by rumors I don't mean watching market shows on TV, I mean I've heard from someone in my family that works for a big company with a big real estate division that is just biding its time and waiting for the California burst to move in and buy up land. Last winter they gave this exuberance 18 months. Could they be wrong? I don't know, but I would be surprised if they were. We'll see in a year's time, I suppose.
Real estate has just gone crazy, especially in California. If I had known five years ago, about the time I moved here, that I could have moved to Malibu, bought a crummy trailer home for $150K, fixed it up a little, and sold it for close to $1 million today, I would have done that in a heartbeat! Oh my god!
What's even more surprising about this story is that somebody is actually lending money on these trailers; where I live, you can't get a loan on a trailer. We subscribe to Dwell magazine, which is this really cool architectural mag, and there are usually all kinds of interesting, mod, prefab homes featured in it every few months, so the idea of prefab housing is coming into a new era, to be sure. But just refinishing a crummy trailer and getting $1 million? Oh my god! I have to say it again.
I also have to say I now firmly believe that there is a real estate bubble. People have been coy about this topic. Some claim the burst is just around the corner, while others have made spectacular amounts of money. Just down the road from me, Las Vegas has gone plumb crazy, too. If we had moved there instead of here, we'd be super wealthy without having to do anything but own a home! Of course, in order to make money in this real estate deal, you have to sell. Most people don't like that idea, buying a house and selling it just for the money, especially women. We're all caught up in the idea of a home. But since my home is also a business, I am ready to sell at this point, and damn happy to do it so I can build a home somewhere else and own it outright. I just hope this all happens before the big bubble POPS!
My secret love is real estate, and I mean anywhere. If I was extremely wealthy, that's all I would want to buy. If, in my rich life, my husband bought me some expensive piece of jewelry or a new car, I would take it back, get the money, and go buy some land or a house somewhere. If I had big money in the form of a $1 million California home, I would be selling TODAY. Then, I would go and buy a house outright somewhere else, or buy a farm or a small town house, perhaps in a lot of different cities, pay my taxes and just travel. Because when that market correction comes, it isn't going to be pretty. The end will come when nobody on the bottom of this buying pyramid in California can afford to buy a house anymore. Without new buyers for the homes at the bottom of the prices, no one can move up, so to speak, and the bubble bursts. And then it will spread, very slowly I think, throughout the rest of the country. This day is coming; I have heard rumors that it will come within the next year. And by rumors I don't mean watching market shows on TV, I mean I've heard from someone in my family that works for a big company with a big real estate division that is just biding its time and waiting for the California burst to move in and buy up land. Last winter they gave this exuberance 18 months. Could they be wrong? I don't know, but I would be surprised if they were. We'll see in a year's time, I suppose.
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