I've got to ask around here in Los Angeles to see if the same thing is happening.
Get this : my Realtor (a personal friend) just told me that many of the homes that come up in my area, which by the way is still white hot (northern VA) , are being bought by non other than , you guessed it , Realtors!
All of the many Realtors I know sold most, or all, of their properties two years ago. It would be fun to see them get sucked back in at the top.
In the 1700s Sir Isaac Newton was sucked into investing his inheritance at the top of the "South Sea Bubble" - after telling everyone he knew, for a couple of years, that the South Sea shares were a bubble which would collapse.
He lost most of his money. In the end, what drove Newton to invest was watching a neighboring uneducated carpenter make a fortune for himself. Finally Newton couldn't stand it an took the plunge.
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