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Nearest I can figure, someone is losing about $8,400 a month. (That's via an on-line tool I found, assuming 6% interest with nothing down on a 30-year loan.)
Who can afford to lose that sort of money?!
Yes, I know that commercial real estate makes these sort of figures seem like small potatoes. But still...
And by the way, one Saturday, Rachel and I went for a nickel tour during an open house. Amazing. the master bedroom of our house could fit into the master bathroom - with room to spare.
Somebody was losing a lot less money when it was just a small vacant lot with a bunch of short scruffy trees.
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