In Texas, Randy Steadham, a former oil services exec who is president of the Realty Investment Club of Houston (none too subtle acronym: RICH), says his membership has quadrupled since 2001, to 2,100 people.
"I for one," he drawls, "have pulled all my money out of the stock market and put it into real estate."
Hmm. Substitute the words tech stocks for real estate, margin loan for interest-only mortgage, and the housing boom takes on an ominously familiar tone.
http://money.cnn.com/2004/09/17/real_estate/buying_selling/money_bubble_0410/index.htm
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