Soon after arriving in Arizona, former Republic columnist Jon Talton made it clear what he thought about people who made money in real estate.
We know what must be done. But the business elites that grew rich off the old land-exploitation model refuse to change.
About that time, Talton bought a gorgeous 2,423 square foot house on an 11,000 square foot lot in the historic Willow neighborhood. It was built in 1910 and has a large pool, 2 car garage and 800 square foot guest house.
He bought the house for $409,000 with $20,000 down.
Since the house is in an historic neighborhood, Talton paid half the annual property taxes that the rest of us pay.
Talton has resigned from the Republic and is moving to Seattle. His house is on the market, and as you can see, even in a down market, he's asking $950,000.
Isn't that great? The guy writes three columns a week for seven years moaning about the "real estate industrial complex" and then he makes a tidy $500,000 profit on a $20,000 cash down payment.
Gosh I love living here.