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Real Estate


Tom Kelly
Tom Kelly
The Real Estate Adviser
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February 12, 2004

The Real Estate Adviser: Doom and gloomers are wrong about housing bubble

By TOM KELLY
Special to the Journal

While reading the latest report on the Puget Sound home market, I again thought about the idea of a “housing bubble” and how some analysts continue to predict the continued upswing in appreciation – averaging 35 percent nationally in the past five years – will eventually dart down dramatically, “bursting'' the bubble.

According to the latest report from the Northwest Multiple Listing Service, brokers reported 5,385 closed sales in January, up 7.9 percent from the same month a year ago when members reported 4,990 closings.


 
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