white elephant

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White Elephant

An investment, especially in real estate, that is expensive, unprofitable, and difficult to sell. An example is a house that is overbuilt for its neighborhood. A white elephant is perhaps one of least desirable investments possible.

white elephant

Like the legendary white elephants of India, a property that is expensive to maintain, doesn't return any particular value, and can't realistically be sold to anyone else.

References in periodicals archive ?
Based on GWEIC's due diligence, research, negotiations, and discussions between the companies, Daniel Fisher, President & CEO of Great White Elephant states "Our talks have been very fruitful and positive.
If we have a white elephant of a Convention Center, which everyone agrees to, then why are we building this hotel?
The 15ft high inflatable white elephant was unveiled in the shadow of Teesside Transporter Bridge.
Privatizing some of these big old white elephants is going to be the way to go.
She added: "I've heard people using the words 'white elephant' about it but to me, a white elephant is only if you spend money on something that ends up unusable for what it's put up for.
The white elephant has distinctive pearl-coloured eyes and white hairs on the body.
But Meeker's complaints would mean more if Churchill hadn't treated its California property like a white elephant from the very start.
FLOWER SHOW: Floral designs, horticulture specimens, a plant market and white elephant sale are all part of the Southern Garden Club's 39th Standard Flower Show, ``Through the Garden Gate.
And forget what the cheerleaders over at the Los Angeles Travel and Convention Bureau are saying when they try to fill up that white elephant sitting next door to Staples Center - the Los Angeles Convention Center.
Now the city has a white elephant on its hands, and city officials are once again turning to the public to pay for what's supposed to be a winner for Los Angeles.
QUARTZ HILL - The Quartz Hill Woman's Club will host its annual white elephant sale at 10 a.
LANCASTER - The city of Lancaster is selling its last lot in the Lancaster Business Park, a major milestone for a project derided as a white elephant when the city took it over during the recession of the 1990s.