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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (21527)	6/10/2004 11:10:35 PM
From: GraceZ	Read Replies (1) \| Respond to of 306849

People learned nothing from the stock market bubble. This part just kills me, change a few words and it could have been written back in 1999 about the stock market only now it's a Ponzi scheme with leverage: "I woke up a year ago and found I was a millionaire," said Jeff Brummitt, a Coronado real estate broker with 25 years of experience and partial owner of several properties. "We're all scratching our noggins trying to figure it out. It's just breathtaking. It's uncharted territory." Ordinary homeowners are no less amazed, which is one reason why they can't stop talking about it. "When people are doing well, they have a sense of hubris and intelligence, a sense of capacity, a sense of 'I did this because I'm smart,' " said Stephen Goldbart, a psychologist and co-founder of the Money, Meaning & Choices Institute in San Francisco. These days, everyone's a real estate genius. While stocks are no sure bet, real estate still offers the chance for quick riches.