Friday, August 10, 2007 to Fill Virtual Reality with Unsellable Houses

As the CNN Money link at the bottom of this article shows, there is no escape from the market's current real estate and credit woes. With a 3-D rendition of an unsellable $3.1 Million house appearing in Second Life, it appears credit market and real estate problems have not been contained, even to the physical universe. Virtual reality has now been invaded by monuments to market excess.

This is definitely an expanding market for Second Life. Second Life's next offering will be volume discounting for multiple properties owned by Banks. Rumor has it that they have teams of graphic designers working on 3-D images for uncut grass, and boards that can optionally be placed over windows to mirror the real life state of disrepair of bank owned properties.

The price of second life CDOs and Mortgage Backed Securities have not been set at this time.

1 comment:

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