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.
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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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Summary: Ludhiana [Punjab] [India], Feb 14 (ANI): Shiromani Akali Dal (SAD) President Sukhbir Singh Badal here on Wednesday said Congress minister Navjot Singh Sidhu has insulted 'Virasat-e-Khalsa' by calling them white elephants.
The White Elephant is to Nantucket as the Hassler is to Rome: old-school luxury from people who helped define the term.
It's the ninth white elephant in captivity in the country.
How can he justify spending ratepayers money on this white elephant? I seem to remember Ashington had a white elephant once before will this be the second one?
SIR - I note that at last the Welsh Government has admitted that it is going to pour more money into the Circuit of Wales white elephant, on top of the PS2m already spent.
My mother, Dorothy, womaned the White Elephant table at everybazaar until she died.
He said: "There is one thing that you have to bear in mind - you cannot build a white elephant. The white elephant would be a great stadium and no team.
WEST Ham manager Sam Allardyce has warned London's Olympic Stadium could become a "white elephant" if his side are not allowed to relocate there.
What do hold your horses, white elephant sale, and let's get this show on the road have in common?
Summary: The new high-speed rail link proposed to run between London and Birmingham has been branded a "white elephant".
THE new high-speed rail link proposed to run between London and Birmingham was branded a "white elephant'' today.
The Co-operative has the refreshing South African white Elephant Trail Colombard Chardonnay 2009 on sale at pounds 3.75, down from pounds 4.75 and from Chile, La Finca Cabernet Sauvignon 2009 for pounds 3.99, down pounds 1.