Kathleen Pender at the SF Chronicles wrote that the number of Real Estate Investment Clubs in the country has increased considerably in the past ten years, while the number of traditional investment clubs registered with the National Association of Investors Corp. has fallen from 34,000 at the end of 1999 to about 20,000 today.
In hot markets like San Francisco, DC, Boston, it wouldn’t be surprising if Taxi drivers are starting to give passengers real estate investment tips!
Is it really a bubble is a question that’s left to economists’ to answer. For lucky home owners like myself, it is satisfying to see price go up on one hand. But on the other hand, you really can’t say you gained much because it is all “paper money”, just like those stock options in the good old days 🙂