I've read plenty of stories over the past year about huge drops in property markets around the globe but thought they were mostly media beat-ups, you know: "property values plummet!", "repossessions soar!" What shall we do! Who shall we turn to!
I usually snort at such media silliness but this time it appears they're right. Imagine my surprise.
Apparently Richard Fuld, who was the chief executive of Lehman Brothers before it filed for bankruptcy, sold his $AU20.3 million ($US13.3 million) Florida mansion to his wife for $152 ($100) last November.
So there really are some great bargains out there at the moment! I bet there are heaps of $152 mansions for sale in Sydney. I don't think it's overly optimistic to say make sure you keep Friday night free for my $152 mansion housewarming; it's gonna rock.