I friend of mine just purchased a super nice apartment in a nice part of town for the ridiculously low price of $31,000. It's a 2-bedroom, separate kitchen/living and a gorgeous balcony with an ocean view. Back when the economy was good, the apartment was worth about $220,000, according to the bank that repossessed it. I have been thinking about getting a new place, but for some reason I feel kinda "ick" about getting a fire sale place, and they abound here. I mean, isn't that kind of like benefiting from others' misery? Like kicking them when they're down? Is it rewarding the bank too?
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