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Subject: Is real estate becoming the '00s version of the dot-com bubble?
Written By: Bornin87 on 05/27/05 at 4:58 pm
In my neighborhood, I'm seeing 2-bedroom 1-bathroom houses sellings for pirces that a few years ago would have bought you a much larger house. Some people are buying 3-4 houses at a time, just to fix them up and sell them several months later at a higher price in order to make a profit. People are treating them like stocks, and are literally investing in their homes. I'm generally not a business person, but this bubble has gotten me worried, because it reminds me of the dot-com bubble in the late-90's, when bars would show CNBC instead of ESPN, and you had 12 year-olds on these channels talking about their favorite mutual fund picks. We all know what happen after that, and the mid-00's could be a repeat of four years ago when the bubble pops.