Bubble Starting to End?
Think the housing bubble’s about ready to finally burst? One guy in L.A. is already shorting the housing market. An article in the L.A. Times writes about Mark A.R. Kleiman, a UCLA professor of public policy, who sold his 2,700-square foot, four-bedroom Mulholland Drive home and made a 62% gain over the price he paid in 1997 plus remodeling — and then he moved to an apartment in Brentwood. The article goes on to reinforce the common belief that maybe the end of the bubble may be near. If I could have found a Westside REIT, I could have shorted that, Kleiman said.
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