Wow and that deosn't even include transaction costs and presumably renovations or improvements.
"One out of every eight homes sold is fetching less than it cost.
It's a sobering thought for investors still affected by the delusion that house prices never fall.
The figures, from the RP Data Pain and Gain report released on Tuesday, are based on gross profits and losses, which exclude transaction costs and taxes.
Read more: http://www.smh.com.au/business/the-economy/one-in-eight-home-sales-are-at-a-loss-20131008-2v5jn.html#ixzz2h7NLKy91"
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