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Past Icebergs Recalled as News of Chinese Binge Floats By
When it comes to real estate reporting, there seem to be more icebergs out there than in Antarctica in mid-summer (which is mid-winter here—but never mind).
Tumwater real estate followers only know about the spate of icebergs because real estate reporters are always headlining that something-or-other is “just the tip of the iceberg.” Other things are “like an iceberg” because 90% is invisible, lying in wait just beneath the surface. Whenever real estate reporting begins to bring to mind Celine Dion, My Heart Will Go On, and the Titanic going down, you’re right to squint a little harder at whatever is being reported.
The standard real estate iceberg is usually a trend—a real estate trend that’s recently shown itself peeking out just above the surface. A real estate iceberg trend is one which will cause gigantic tsunamis of real estate ownership or investment—and pretty soon, at that. There was a legendary real estate iceberg back in the 1980s when Japanese ownership of commercial real estate was soon going to turn all of America into a Japanese prefecture. America was being bought up wholesale: the tip of that iceberg showed itself when Rockefeller Center changed hands. Within a few years, that iceberg ... more
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