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Curbed PriceChopper: Rancho Cuckoo-Monga Chopped

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The LA Times LA Land blog reports on a disastrous pricechop in Rancho Cucamonga that will make even the stoniest home builder cry. Quoting the blog with a tale of woe:

"These 7 beautiful Wilson Estates Luxury Homes in north Alta Loma, the crown jewel of the Inland Empire, were listed for over $1,200,000 in early 2007. "By April the price had been reduced to the mid $900,000's with a banner which read MUST SELL BY MAY 5!

"The price reduction didn't bring a single buyer! On May 20th the banner was replaced with a sign which reads, 'AUCTION. 7 New Luxury Homes. MINIMUM BID $695,000.'"

Discounted luxury is the best kind of luxury.
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