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California and Florida always have some kind of bubble to their real estate. Retirees move down and then quickly want to get out as soon as the first earthquake/hurricane/crime happens. Then is the time to buy, wait a few months then sell during peak summer months.
The problem is some 'investors' are way too green and are expecting huge increases within a few months for no real reason other than supply and demand. That is not sustainable with all the development going on and the relatively fragile state of the US economy.
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