[FoRK] Does this real estate boom remind you of the dot-com boom?
jeff at vertexdev.com
Tue May 17 12:24:21 PDT 2005
Back in 1998 and 1999, hallway and lunchtime conversation would quickly
turn to "the market" and the latest hot stocks, the newest IPOs, and how
wonderful, ever-lasting, and "different than last time it all was." The
attitude was "jump on quick, this train is leaving the station."
Suddenly (at least here in the suburbs of Seattle), real estate feels
the exact same way. Everyone is talking about it, everyone is sure
that the prices will go up forever, and more than half of the
families we know are in the process of moving to larger homes (after
relative stability for the past 5 to 7 years). People express
amazement at the value of their current homes, mortgage offers flood
my mailbox, and so forth.
The interesting questions are: When and how is this all going to
end? Will it be with a bang (sudden devaluation) or with a whisper
(longer time on the market, little or no appreciate for an extended
period of time)?
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