Quote:
Originally posted by jkarolyi
>>Does any one really know someone who bought some real estate as a speculative venture?
Yeah...do a search for "Motion". He drives a Ferrari 360 Challenge Stradale. 'nuff said. 
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Actually, I bought real estate in Phoenix as long-term investments. I even bought a new pickup truck to drive there and maintain the properties. The problem arose when I saw 90% appreciation on the houses in 9 months. I changed my mind and sold them (still trying to sell one). I just got lucky.
BTW, commercial is going nutz down here also. Check this out:
http://www.cpnonline.com/cpn/article_display.jsp?vnu_content_id=1002237033