Perfect solution for cash starved Americans.

I am not the only to have read several newspaper reports that the real estate price in the U.S. is lying flat on the ground and there are no takers for houses that are put up for sale. I read that there are houses that are available for as low as $400 but for that too there are no buyers.

A woman named Traude Daniel in Klagenfurt, Austraia faced the same problem. She could find no buyers for her 4,305 sq ft villa. She hit upon a bright idea. She decided raffle it off.

She sold 9,999 raffle tickets priced at $128 each that brought in $1,280,000. Her villa was worth about $10,000,00. The tickets were purchased even from people in America.

Yesterday, the lucky winner of the raffle was picked up and it turned out to be Walter Egger.

Isn't this a real win-win deal?

It is reported that the idea is catching up fast in Europe. Are you listening, Americans?

This is the villa that was won by Walter Egger.

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