Another sign of bubbles?

Where will the markets go when the cheap and
easy money dries up? With all this talk about bubbles, might this become a
self-fulfilling prophesy? In our market, I do not foresee a “bursting of the
bubble,” but perhaps a moderate leveling-off of prices. The times when
homeowners clear $80k in two years cannot continue forever! From the Washington Post

Anecdotal evidence has mounted
for a year or more that speculation is helping push prices higher in the
Washington area, southern California, Las Vegas and Reno in Nevada and Miami.
All those areas racked up substantial double-digit home-price gains in 2004 but
also showed signs of significant cooling in the final quarter of the year.

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