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Lima Home Depot, going once, going twice...
Wednesday, December 23, 2009
It wasn't too hard to guess a few years ago, back when the housing bubble began to burst, that real estate auction companies like REDC would someday be quite busy trying to liquidate 4BR+2.5BA foreclosures. But, who would have guessed they'd be selling Home Depots?
This ad has been in the Wednesday Real Estate section of the Wall Street Journal for a few weeks now. Hopefully, REDC will do a better job selling these than they do single family homes. Around here, the same houses just keep showing up in auction after auction.
2 comments:
Interesting post. I can remember taking a long interstate road trip about 5 years ago where I could not believe the number of new Home Depots that had sprouted up since the last time I had taken the same trip a few years before. Up to that point, I thought of Home Depots as having to be a minimum of 10 miles away from each other. Since then, I always associated the high number of Home Depots with our entire bubble economy.
So it's with great amusement that I see one of those Home Depots that I was astonished to see five years ago in the Wall Street ad.
Let's see, $6 billion x 5% =....
Almost as profitable as Goldman Sachs.
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