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All of these "gains" are totally fake.
There was a shocking statistic I read the other day. Yes, housing sales are way up. But the percentage of houses sold last year that were sold to speculators was unbelieveably high. I think it was pushing 40% or something like that.
So these big price increases are nothing but hot air. They aren't being driven up by legitimate buyers or real market forces. Speculator-driven price increases are not real and never stick once the speculators begin pulling out.
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