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Real Estate
Reply to "Dumpy townhouse can be yours for $1M!"
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[quote=Anonymous]It is/was low income housing. It was all built with subisdies in various forms for low income families. The issue is now the neighborhood is very different and they are sitting on a goldmine and they know it. A developer offered up to 800k for each owner and like fools they said no. I think thats why they think can get this price now. Or maybe someone is calculating that they can buy it for 900k and then a developer will come back in two or three years and offer 1 mil for the buy out. Its fucked up that tas dollars subisdized the contruction and now people can cash out without paying back the write down. [/quote]
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