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New York and Seattle are booming. If interest rates don't rise soon the rest of the country will follow. It's all being fueled by inflationary monetary policy. When they decide to raise rates and how fast they raise them will determine if the new bubble bursts or becomes a period of sustainable growth. I'd be particularly nervous about buying condos, townhouses and coops at the lower end of the spectrum now. If the bubble does pop they will fall the fastest and the farthest.
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