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From the: Department of the Blindingly Obvious by evil_andy2006-11-19 12:55:59
  First the dot bomb bubble burst by DesertRat662005-08-09 09:18:49
    the real estate bubble is in high gear here in San by dros42 2005-08-09 09:58:31
Jose, CA. I see 800 sq ft homes on tiny lots for sale for $500k and fixer upper homes that need a LOT of work going for 400 - 600K. These prices are absurd. Unless you are independently wealthy, you can't afford to even ge a mortgage unless it is interest only.

The basic theory on how to make money in real estate here is to get a interest only loan and wait for 10 years. The house gains more equity than you have put into it paying interest only payments and then you can sell it for a profit.

Too bad it will all crash some day. Actually not too bad, since I will be there to pick up a beach house cheap.
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