“Sometimes you do things in life and you don’t know why you’re doing it,” said Fahim. “We’re gullible out here, I guess,” said Fred Stearn.
Sure, that’s what many FBs will be saying in the not so distant future. But this next guy clearly sees the mirage for what it is:
“Why would anybody in their right mind build out there now? … It’s almost on the edge of the Earth,” Brady said.
I’m not saying that desert land so far from Barstow is worthless. Once we have high speed trains linking Vegas and Anaheim, some of this area may be developed. But when? In the 24th century perhaps? No wonder Mr Fahim thinks of the future:
Ashraf Fahim insists he is in Newberry Springs for the long haul. Still, he recently tried to sell one of his holdings near where the owners of a failed water park want to build 1,400 senior housing units. Believing he could cash in, Fahim listed his parcel for $4 million — 57 times what he paid less than two years ago. He didn’t get a nibble and pulled it off the market.
Yup. Long haul indeed. Who knows? His great-grand-grand-grand-grand-grand-grandchildren may sell the land for gazillions some day. But in the meantime, there are those pesky holding costs to worry about:
Fahim’s home equity loan is burning a hole in his checkbook, requiring him to work extra hours. But he takes solace knowing he placed each purchase offer on the altar of his church and prayed before buying “to see if there’s something from God or not.”
In other words, the force is with him, like that movie…
