I listened to your interview with Aaron Task today. While I can agree with your thesis, I did not care for the Love Canal-Detroit comment. Houses in the city of Detroit rarely go to $0 and certainly have some value to someone. This unfunny remark can probably be best summed up as racist or ignorant. I will assume the former.
Actually, its neither.
People have tried to take me to task whenever I differentiate between stocks and houses. The half joking quote is "The difference between stocks and houses is, outside of Love Canal & Detroit, houses don’t go to zero."
I’m sorry Nick, but unfortunately, this is not a joke: I first mentioned this back in February, when realtor.com had a huge run of houses for sale in the Detroit area for $100.
There are 182 Properties for sales for less than $1,000 on Realtor.com/search — and the asking price on some of those houses is one dollar:
Thanks for the suggestion Nick — I never would have thought of updating this if it wasn’t for you!