Fly Me To The Moon

Minyanville Staff  Jun 09, 2008 3:55 pm

Fly Me To The Moon
 
Where's the next real estate hot spot?
 

 
Real estate investors have good reason to be gloomy these days. A new report shows that US housing prices suffered the sharpest decline in over 20 years over the first quarter. In fact, prices are dropping about five times as quickly as they did during the recession in 1991, according to the S&P/Case-Shiller US house price index.

But it's not just consumers who are worried. Banks like Citigroup (C), Bank of America (BAC), and Washington Mutual (WM) have all been hit hard by the housing crisis. So hard, in fact, many are wondering where on Earth you can look to find a stable housing market.

Well, maybe "Earth" is the problem. Let us explain.

If all this news has got you down, there's no better time to check out extra-terrestrial real estate. That's right, real estate on the Moon and on Mars has remained comfortably stable over the past few years. For just $25, you can buy an acre of land next to the beautiful Sea of Tranquility. Sure, there's no atmosphere there, but there's no bubble to burst, either.

Join and Hoofy and Boo as they take a closer look at some out of this world real estate.

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