Beware of bubble trouble
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Regarding “Betting That Home Prices Will Cool Off” by Julie Bawden Davis, Oct. 13: What we are witnessing now with the real estate market is a parallel of the Internet stock bubble of just over 1 1/2 years ago as well as the real estate bubble burst of the early to mid-’90s.
As with the Internet bubble, all common sense and traditional means of valuation have been tossed aside. If you want to negotiate on one of these inflated beauties, the selling agent will politely escort you to the door.
With homes selling at a record pace and for record prices, it seems as if all of the lessons of the past have been tossed aside or forgotten.
History, unfortunately, always exacts a hefty price of those who fail to remember it.
Bruce Brown
Rancho Cucamonga
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