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Tapping a Flow of Cash From the Credit Cri
weathered the worst of the storm without problems. Richard Cacciagrani, an owner of Toscano, a popular Boston restaurant, watched the value of his home four blocks from the beach in Naples climb so rapidly — tripling in value from 2002 to 2005 — that he couldn’t imagine selling. “My house appreciated so much that I was wondering if it was going to keep booming,” he said.

It didn’t. But now, instead of fretting over a lost opportunity of cashing in during the boom, he looks at the property more as another asset in his portfolio, and eventually, he will realize its value. “They built two $1.2 million houses across the street and they sold,” he said optimistically.

 


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