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California For Sale?

Posted by italco on May 14, 2009

arnold-schwarzenegger-picture-1

Arnold…what are you doing? You can’t sell the State of California!

Oh, you are having a city block sale…well thats different then.

I am kidding of course. Looks like a good oportunity for Property Investors to buy some State Owned property at bargain prices. Check out the story written on Reuters

“California governor Arnold Schwarzenegger is planning the sale of some state properties including the Los Angeles Memorial Coliseum, San Quentin State Prison and the Orange County Fairgrounds to raise cash, the Los Angeles Times said, citing a copy of a proposal. The sale would raise $600 million to $1 billion, and is likely to be included in the governor’s revised budget plan on Thursday, the paper said.” http://www.reuters.com/article/domesticNews/idUSTRE54D17X20090514

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2 Responses to “California For Sale?”

  1. hmmmm…selling San Quentin. That’s interesting.

    • italco said

      It wasn’t very long ago when you couldn’t keep property on the market in California. It will be interesting to see if they hit their target goal. Would you buy San Quentin?

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