money pit

money pit (plural money pits)

  1. (idiomatic) A possession or financial commitment that creates substantial ongoing expenses, especially one whose costs are considered to be unsustainable.
  2. (sometimes, capitalized) Long-standing nickname of a complicated, seemingly man-made excavation on Oak Island in Nova Scotia, Canada, rumored to contain pirate treasure and which has been repeatedly and unsuccessfully probed at great expense.

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