Different State, Same Nonsense

July 25, 2008 No Comments »

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So I’m still trekking across the United States, and while the real estate signs slowed as I passed through Nebraska, they picked up again in Iowa and Illinois.

And so it wasn’t long before I snapped the above photo in a town on the Nebraska/Iowa border advertising a home for sale with no down payment.

You’d think there’d be less of this type of signage now that the housing bubble has burst and home prices keep slipping lower, but it still persists.

I’m actually curious if this type of thing will ever go away, considering the fact that mortgage lenders continue to tighten underwriting guidelines and reduce maximum loan-to-value ratio requirements.

But either way, at least some properties seem to be selling, as evidenced by the photo below, which was located just down the street.

sold

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