From time to time a real estate housing is running amok. Home prices kept going 3-5-10 times sharply up, then spiraled down. Intoxicated buyers are keeping snapping houses and condos, regardless of price, as if only a sky is a limit. Then suddenly, without any warnings all buyers simultaneously stopped their buying sprees. The result is: real estate dropped into a dead zone. Prices plumed to the original level, or even lower (before the housing amok) and - bankruptcies and foreclosures are rampant.
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BY ALLA P. GAKUBA, BSCE, MAS, PhD