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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 745944  
Subject: Real Estate as a 'wasting asset' Date: 1/3/2005 7:44 PM
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From today's Scott Burns' column

Http://www.dallasnews.com/sharedcontent/dws/bus/scottburns/columns/2005/stories/010205dnbusburns.56126.html

Housing prices will hit a high-water mark, literally. I know this for a fact, having seen an advertisement for a house currently for sale in the village of Siasconset on Nantucket Island, Mass. The 2,800-square-foot house, on 2.5 acres of land with 300 feet of beach frontage, is on a bluff that overlooks the beach. The house is offered for a tasty $5.9 million, or $2,100 per square foot.

Unfortunately, as the bluff erodes, the beach is moving toward the house at the rate of 1.5 feet per year. That makes the house a "wasting asset" that will disappear, along with the land it is on, in about 100 years.

</snip>


intercst



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