Thursday, June 15, 2006

REAL ESTATE > The Millionaire down the Street Was Right, But Now What's in Store for Real Estate?

WHARTON: For many across the U.S., the real estate market has been the latest get-rich-quick craze. Indeed, hordes of homeowners and investors have become wealthier as they watched their home values increase or their investment properties sell for multiples of what they paid for them just a few years ago. But the run-up in real estate may be ending. Federal Reserve chairman Ben Bernanke last month said the housing market is "cooling." Around the same time, former Fed chairman Alan Greenspan told the Bond Market Association that the U.S. housing market's "extraordinary boom" is over.

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