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Nesgroup address: misc.invest.real-estate - Date & Time for the message: Sun, 27 Mar 2005 11:18:11 +0100 /

Author of the message: sufaud

Title of the message:
Echoing the dot-com boom, many middle- class investors are

Text of the message:
Los Angeles Times
THE NATION
Putting Stock in Property
Echoing the dot-com boom, many middle- class investors are rushing into real
estate.
By David Streitfeld
Times Staff Writer
March 27, 2005
SAN FRANCISCO ‹ Chris Boome, an insurance agent in the suburb of Burlingame,
doesn't want to work the rest of his life. Who does? But at 58, Boome knows
he hasn't saved enough to retire.
So a few weeks ago, he revamped his retirement accounts. He sold most of the
mutual fund shares and used the cash to buy an $83,500 chunk of land in the
Nevada hills, a stretch of ground he had seen only in a photograph.
"This is more exciting than a mutual fund," Boome said. "It feels safer too.
You buy a piece of dirt, you feel you'll always have a piece of dirt."
The astounding rise in home values is enticing many middle-class
Californians to bet on dirt, gambling their retirements that they can do



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