Comments on: Sob story of the day, Cat Rock edition http://blogs.reuters.com/felix-salmon/2010/12/29/sob-story-of-the-day-cat-rock-edition/ A slice of lime in the soda Wed, 22 May 2013 01:01:25 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: itsaboutspace http://blogs.reuters.com/felix-salmon/2010/12/29/sob-story-of-the-day-cat-rock-edition/comment-page-1/#comment-23247 itsaboutspace Tue, 18 Jan 2011 06:20:49 +0000 http://blogs.reuters.com/felix-salmon/?p=6736#comment-23247 Maybe I'm cold-hearted, but I wasn't feeling sorry for the guy when I was reading the first paragraph. Why? Because if he couldn't make his house affordable with renting it out and so many people living in it (some of whom would be working, no doubt) then he overbought. Way overbought. Maybe I’m cold-hearted, but I wasn’t feeling sorry for the guy when I was reading the first paragraph. Why? Because if he couldn’t make his house affordable with renting it out and so many people living in it (some of whom would be working, no doubt) then he overbought. Way overbought.

]]> By: TFF http://blogs.reuters.com/felix-salmon/2010/12/29/sob-story-of-the-day-cat-rock-edition/comment-page-1/#comment-22407 TFF Wed, 29 Dec 2010 12:16:12 +0000 http://blogs.reuters.com/felix-salmon/?p=6736#comment-22407 The stated operating cost of $500,000/year is likely accurate. Probably includes half a dozen full-time staff. It does seem unlikely that the heating cost is a major concern, however. Bet they aren't getting that many wedding rentals. If he only cared about breaking even on the operating costs, he would set it up as a weekly vacation rental. That would go a long way. He's probably more interested in pulling $20M of equity out, however. The stated operating cost of $500,000/year is likely accurate. Probably includes half a dozen full-time staff. It does seem unlikely that the heating cost is a major concern, however.

Bet they aren’t getting that many wedding rentals. If he only cared about breaking even on the operating costs, he would set it up as a weekly vacation rental. That would go a long way.

He’s probably more interested in pulling $20M of equity out, however.

]]> By: harshalpatel http://blogs.reuters.com/felix-salmon/2010/12/29/sob-story-of-the-day-cat-rock-edition/comment-page-1/#comment-22406 harshalpatel Wed, 29 Dec 2010 12:08:12 +0000 http://blogs.reuters.com/felix-salmon/?p=6736#comment-22406 Felix, I honestly thought this story was a joke until I read the WSJ article. Absolutely ridiculous. WSJ should report on real middle class families in danger of losing their homes. Felix, I honestly thought this story was a joke until I read the WSJ article. Absolutely ridiculous. WSJ should report on real middle class families in danger of losing their homes.

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