Real Estate Frenzy from Fortune Magazine

Fans of Jim Kunstler's Geography of Nowhere and the Long Emergency will be particularly nauseous after reading Fortune Magazine's article Riding the Boom, now available free online. 22 year old speculators buy "threesies" and foursies" (multiple purchases) of suburban tract houses in the middle of nowhere around Phoenix and Las Vegas. Some do not know how many they own, but are confident that they will just keep going up in price. In the desert. Truly Nowhere. Its so tulipomanic. Why should Treehuggers care? Trees will fall, resources will burn to support this insanity. Put on Flowers from the Talking Heads and read ::Riding the Boom

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