Buy a Condo in San Diego, Get a Free Car

Bill Bonner reports:

Robert Griswold, owner of Griswold Real Estate Management in San Diego, said sellers were resorting to bribery similar to those in the auto industry. At a recent Rolling Stones concert, fliers were handed out offering a free car with every condo purchase.

"The market has definitely turned," he said. "When you see that kind of advertising and promotion, they are clearly getting desperate."

Motivated sellers.You could probably live cheaper in a hotel than putting 20% down on condo in San Diego and paying the mortgage,interest,property taxes,and assessment.