A small example of greedflation

Geek Nasty

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South Kakalaka
Here's a house in KC, $600K sitting on 4 acres in one of the most affluent municipalities in KC


Now, take a 2nd look:
  • The price was just dropped $250 THOUSAND DOLLARS! This is KC not NY or LA. That is flagrant
  • It's on a big lot so maybe you could create a few more sub lots and build mcmansions on them. But look at the flood zone feature. 1/2 the land is in a flood zone. So you couldn't even reasonably build other houses on the lot without major land leveling
  • Look at the price history. They were originally asking for $1.3 MILLION
I've seen a lot of this in our market. People just jacking prices up and sitting on properties for months even a year. Then regularly relist properties so they show up as "new"
 
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DJK

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Greedflation is definitely the right word for it.
This is everywhere bro.
Rampant down here in Fla!
Makes me sick bc I got caught up and went $50k over my budget for a house.
 
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