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IPFS News Link • Economy - Economics USA

Next Segment Of The Housing Market To Crash: $1+ Million McMansions

6/30/09 • Business Insider

The new hallucination for most strapped McMansion owners is that they'll "rent the house for a year and then sell when the market comes back." The happy theory here is that, yes, prices are temporarily depressed, but when the green shoots really take hold, we'll go roaring right back to 2006 levels again. Most real-estate agents will be eager to tell you that they agree with this theory. What they won't be able to tell you, as Mark Hanson of the Field Check Group points out, is why.

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Reported By Anonymous Watchman

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