Bear Island Foreclosure Sale

[wifi]

Originally Posted by secondcurve

Wifi:...I agree with you that this might be the first of many lake front homes that go upside down, but I think it has little to do with the SPA and everything to do with a lack of personal responsibility......

I certainly agree that personal responsibility in spending, particularly as seen here, plays a big part, just as towns need to start controlling spending to keep the tax rate under control.

My point was that in addition to downward going market prices, the SPA will push down house prices further, such as this, that aren't pristine and don't contain every possible feature a buyer would want or need, because the SPA won't allow the average guy (maybe even the unaverage guy) to do basic things (such as a septic tank) to make a house livable once they buy it.

I'm not trying to re-ignite a debate on the SPA, its already been rammed down our thoats. I think the SPA will play a large factor, behind the scenes, in depressing the prices of non McMansions, which will put lots of the lake front folks into financial disarray, and this particular house is one of the first examples.