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Bailout

: Calculated Risk

Tourists in Foreclosureville

By Anonymous

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From Peter Goodman at the NY Times: Real Estate in Cape Coral, Fla., Is Far From a Recovery (ht Craig)
As we navigate this speculator?s paradise turned financial wasteland, Mr. Joseph stands at the front of the bus in a green polo shirt, highlighting specimens like this one: a white stucco house fronted by palm trees and topped by a Spanish tile roof on a canal emptying into the Gulf of Mexico. It last sold in 2005 for $850,000. Yours today for $273,000.
Goodman takes us along on a foreclosure tour and provides a few anecdotes about the MESS.

Full post as published by Calculated Risk on January 03, 2010 (boomark / email).

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