This 1.4 million dollar home sits unused maybe two miles from our home. It has never been occupied. It has been on the market for more than the eight months that we have been back in our native country.
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.