Tuesday, December 18, 2007

Property bust? Lunar land prices are rocketing

From Reuters:

Property investors smarting from this year's housing bust in the United States might do well to look farther afield -- even out of this world.

Internet searches for lunar land prices show the cost of buying an acre of the moon's surface has risen 40 percent since the start of 2007, investment bank UBS told clients in a tongue-in-cheek analysis.

Lacing a year-end note with caveats, and not a little holiday cheer, UBS strategists said their "esoteric research" of archived news reports suggests lunar property trends may even be a leading indicator of U.S. house prices....MORE