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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (13586)	5/10/2004 12:00:14 PM
From: ild	Read Replies (1) \| Respond to of 110194

I was at a small party on Saturday. Several times people talked about RE. About how they are happy with high prices and exchanging tips on coming new developments. Four and a half years ago it would be stock tips. Here in Orange County starting in December RE has been appreciating 1-2% a week. Crowds of anxious buyers bidding on everything that has a roof. Overall prices are about 30-40% up since Feb 2003. Most of advance is in entry level properties. In good cities a three bedroom 1500 sq.ft. 30 year old condo/house would fetch at least $500,000.