View Single Post
 
Old 06-27-2014, 02:25 PM
manaboutown manaboutown is offline
Sage
Join Date: Aug 2009
Location: NJ, NM, SC, PA, DC, MD, VA, NY, CA, ID and finally FL.
Posts: 7,803
Thanks: 14,199
Thanked 5,068 Times in 1,933 Posts
Default

Some of the places in the Historic Area were going for less than lot value IMHO. To buy up a bunch of teardowns, replace them with modern dwellings and sell them at a fine profit makes sense to me!

This has been going on in my 1962 beach close neighborhood in SoCal for years. A lot of smart money got in when the market took a dive. Now with the upturn the buyers are building new homes on great sites, some for their own use; others for resale. http://articles.latimes.com/2014/jan...downs-20140104
__________________
"No one is more hated than he who speaks the truth." Plato

“To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine