Osama mansion not worth one million

But two property professionals in Abbottabad – a quiet, military-dominated town – said that much of that was incorrect. Based on the size of the plot and the house, which was built in 2005, and using recent property sales as a guide, they estimated that it would fetch no more than $250,000 on the current market.

What does this have to do with New York residential real estate?

About as much as the other Osama posts you've posted to

Maybe there were lots of security upgrades.

I heard it is now available as a pocket listing if you are looking for a summer place in Abbottabad. Skim coating and floor refinishing needed.

I think the $1M price tag is the after-raid price. You could set it up as a Graceland for jihadists & charge $2 per visitor. Then, you charge the US $20 per visitor for placing secret cameras & microphones. You figure 50 visitors a day, so gross revenue of $400K a year. Much better than spending $1M in Manhattan for a nice 1BR / small 2BR grossing $50K a year.

nada, how much for the waterboarding? The possibilities are endless, really. I wouldn't be surprised if Trump is already on this.

Honestly, it is just reflection of the global housing bubble that exists to this day....

Housing and RE has been pushed through the roof in many developed and developing countries and central banks worldwide have done little to nothing to slow the price increases.

One could argue that defacto world joint monetary easing might allow for nominal RE prices to continue to rise in the short-term, but the asset price disparity when compared to historic norms is going to have to adjust one way or the other.... either much higher real wages (which in the developing world would translate to inflated good prices in developed countries) or lower real RE prices in the medium-term.

Given the monetary and fiscal policies of much of the world, there is absolutely no reason Madoff should be in jail for running what ultimately was a less damaging and dangerous Ponzi scheme.

Unfortunately, our whole economic and financial system has entrenched itself into Ponzi policies that have enriched few and will burden many for years to come.

Exactly, memito...explosive growth in paramilitary religious compounds.

Maybe one million was the BPO estimate. We all know they're way off

The very fact that ANYONE could think that a compound like that is worth "one million dollars" goes to show how screwed up peoples' price perspectives are for RE...

If that is worth $1M then a 400 sq ft studio on the Upper East Side is worth $10M.... and I am sure that many buyers today think it will be worth that in 10 yrs...

Waterboarding the Donald? I'm sure people would be willing to pay $1000 per second. However, given that they average CIA volunteer cries uncle after 14 seconds, it just won't bring in that much...

Sound like what's needed is an NAR study press release.