I need to trigger a house price collapse any ideas?!
I need to trigger a house price collapse any ideas?
Answers:
Put some old appliances and broken down cars in your front yard. Stop mowing the lawn. The will trigger a price collapse on your own home, and will spread into the neighborhood as well.
Post up for sale allot of Real Estate in the area. Put each property up for sale at lower and lower prices. Once these properties are sold, they will be used as comparables for other people planning to sell. The market value of new homes posted for sale will be derived from your properties that have sold. You also cause a supply and demand issue from putting up many properties for sale. Obviously, if there are too many properties listed which are comparable, the value of others which you do not own will drop to meet your prices. People cannot sale their home at the high price they started because you have 4 just like it.
Now, if you don't own any Real Estate, the other thing you can do is simply lower the neighborhood value. Crime, meth labs, termites, and various things which have to be mentioned on disclosure agreements (California has the most I think) items mentioned on disclosures will lower the value of a specific home.