From the Wall Street Journal,
As it struggles through the housing crisis, home builder D.R. Horton Inc. is unloading land across California at big discounts.
Horton two weeks ago sold about 2,000 house lots in Desert Hot Springs ... for $7.8 million, according to county records. William Shopoff, a land investor ... estimates Horton paid about $110 million for the land before spending on improvements.
Who knows how much they spent on improvements. But even if they spent nothing that sale would be 7 cents on the dollar. YIKES!!