tag:blogger.com,1999:blog-31671374.post7509730738032206010..comments2023-10-30T07:10:34.610-07:00Comments on Underbelly: Mankiw's LuckBucehttp://www.blogger.com/profile/16452321114185736762noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-31671374.post-90173300556915290102011-02-23T13:02:04.671-08:002011-02-23T13:02:04.671-08:00"Maybe I've got other friends who, say, b..."Maybe I've got other friends who, say, bought apartments in the East 60s back in the Dinkins administration when those puppies were going for $65k a pop, tops."<br /><br />I have an old friend--possibly the same guy--who was renting one of those who was renting one of those when the bank foreclosed. He offered them rather more, but they decided to have a foreclosure auction instead.<br /><br />He went in and bought the place at auction for--you guessed it--$65,000. As the only bidder.<br /><br />It's one of those stories I always tell when people claim that sellers are always perfectly rational. (The other being how my then-realtor was on both sides of a transaction, with consumer/producer surplus to spare, but somehow managed not to close the transaction.)Ken Houghtonhttps://www.blogger.com/profile/01440837287933536370noreply@blogger.comtag:blogger.com,1999:blog-31671374.post-54913351047839717442011-02-05T23:40:51.578-08:002011-02-05T23:40:51.578-08:00I love this post. Just one problem; it needs to be...I love this post. Just one problem; it needs to be longer. More Mankiw-bashing is better Mankiw-bashing.Noah Smithhttps://www.blogger.com/profile/09093917601641588575noreply@blogger.com