A VALENTINE TO THE DEVELOPER'S MIND SET

Here's a developer/land speculator story to warm the cockles of your heart, as reported in the LA Times.  A Chicago investment group purchased Cahuenga Peak, the backdrop for the famous Hollywood Sign, in 2002 for 1.65 million dollars.  The City of LA has been scraping up money to buy it, and have to date amassed around 5 million dollars, moving nearer to the recent appraisal price of 6 million dollars.

Well, too bad, because the owner has just set the price at a whopping $22 mil!  One of the realtors who shares the listing of the property anticipates the ultimate owner may be someone from China, or the United Arab emirates, bargain hunting, as the US  dollar is so soft. Too bad it's one of the most recognizable landmarks in the United States, as it's going to be sold to the highest bidder.

To all the developers/investors/realtors, who are happy to put a buck- well, a whole lot of bucks; a 1,333% appreciation over 6 years ahead of everything else, including working with communities to protect landmarks  here's a Valentine's candy heart with a message just for U. THANKS  4 NOTHING  

Here's the link to the LA Times story: 

http://www.latimes.com/news/local/la-me-hollyhills13feb13,0,2150161.story