Dollars and Jens
Wednesday, October 06, 2004
speculative bubbles
I heard mention that there has been a lot of flipping of real estate in the Las Vegas area — people buying and then selling quickly at a markup, with apparently no intention ever to hold the property for any real length of time. Sounds like tech stocks 5 years ago, dunnit? I don't think the real estate market in most of the country is in a bubble, but in some places — Las Vegas, apparently — it does. We know how this game ends — the music is going to stop and someone's going to get their seat handed to them.

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