A couple of lighter stories to end the week. No advice, just "things that make you go, 'Hmmm.'"
The first involves a Miami woman who found herself and her family evicted for a day, even though they had scraped up the dosh to save their home from foreclosure. Or so they thought. Due to a court mix-up, the house, purchased three years ago for $260,000, was sold at auction to another buyer for $87,000. When the new 'buyer' came to claim the house, the sheriff ignored the pleas and papers of the actual owners and evicted them. Just for a day, but still…. Plenty of comments at other sites saying they never should have let their payments get so far behind, blah blah blah. I'm sure they know that now.
The second involves Bill Gross, head of Pacific Investment Management Corporation (PIMCO), and his wife Sue, who paid $23 million for an 11,000 square foot mansion on gated Harbor Island just off Newport Beach, CA. The Georgian-style manse, built in 1979, has 9 bedrooms, 12 baths, and comes with 112 feet of waterfront — enough to house both of your 100-foot yachts. The original asking price was $26 million, but when you're paying cash you can get a deal. And thank goodness for that — the Grosses plan to tear it down and build their own home sweet home.
Recession? What recession?