A tiny mouse house in New Jersey is making some big waves after hitting the market for the very large price of $499,000 in an apparent attempt to capitalize on the area’s extraordinarily low inventory levels - and the home’s proximity to New York City.
At first glance, you could be forgiven for thinking there had been a mistake with the listing price: It seems almost ludicrous that a petite one-bedroom, one-bathroom house with a square footage so small that it isn’t even featured on the listing could fetch anywhere close to half a million dollars.
After all, this little friggin' doll house isn’t perched on a hilltop parcel in Beverly Hills, CA, or a waterfront lot in Palm Beach, FL. But as it turns out, its prime corner lot in the town of Bogota could prove there's a buyer for damn near everything at any price.
It is a classic case of scarcity driving up demand - and prices - according to Realtor.com senior economist Hannah Jones, who believes the seller is likely betting big on finding a buyer who will pay purely for the address, rather than the property itself.
God help us all if it does sell if it sells anywhere near that price.
Yes it's greed. How much profit do you think is in that price? Started when corporations started appeasing shareholders and forgot to share with their employees who were left behind. Wages used to keep up with inflation but that went out the window with corporate greed. A house payment used to be no more than 30% of your income. Illegals have also driven up the price of housing and idiot politicians who have brought in millions of invaders who need housing.
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