Trading Places: Real Estate Instead of Dot-Coms
New York Times
Published: March 25, 2005
By MOTOKO RICH and DAVID LEONHARDT
Real estate-crazed Americans have started behaving in ways that eerily recall the stock market obsession of the late 1990′s.
In Naples, Fla., some houses have been bought twice in a single day, an early-21st-century version of day trading. Buying stocks on margin has morphed into buying homes with no money down. The over-the-top parties of Internet start-ups have been replaced by flashy gatherings where developers pitch condos to eager buyers.
