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Old 08-22-2019, 10:19 PM
 
Location: Tennessee/Michigan
28,252 posts, read 47,833,181 times
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A sprawling LA property once listed at $1 billion sold Tuesday for just $100,000—and that's not the worst of it, the Guardian reports. The so-called Mountain of Beverly Hills was repurchased by its former owner along with an estimated $200 million in debt. "This is the largest non-judicial foreclosure sale and the largest loss from a lender I've seen in 27 years," a lawyer battling for the property tells the LA Times.

https://www.newser.com/story/279458/...just-100k.html
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Old 08-25-2019, 11:10 PM
 
161 posts, read 111,567 times
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Does the above news mean that the principle of ''Supply & Demand'' forces dictate the price cost of a product/item?
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Old Today, 09:21 PM
 
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Well, it they assumed $200 million in debt, that's still a pretty hefty price tag of $1.275 million per acre.
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