"History is a wonderful thing, if only it was true"

Sunday, May 22, 2005

Now this looks like the real Looney Tune - RealEstate Madness

Investing - Can You Still Cash in on the Real Estate Gold Rush? - Intro - FORTUNE
Riding the Boom
"They snap up real estate, flip it, then chase the next hot market.They’re the new day traders—and they’re dancing on the edge of a volcano."

Stories of residential real estate "investors" who look to flip houses, condos etc.
All assume that they are not the "greater fool"

Likely exagerated, esp with tales of those who have lost track of how many houses they own.

Note that tax laws (no cap gains on flipped property if you are continuing to trade up) encouage "bad behavior"

Wonder what happens to tax reciepts when the music stops.

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