Is Web 2.0 the next big thing for real estate? The answer, of course, depends on one's point of view, but the question is nonetheless important for real estate brokers, salespeople and other professionals who now need to formulate winning business plans for 2008, which could be a rocky year in many housing markets around the country. Proponents of Web 2.0 sing the praises of blogs, online social networking, video content and other interactive online media, and there is little doubt that many people now spend much of their leisure time on these activities. Indeed, millions of users reportedly have added content to MySpace, which is owned by News Corp.; Facebook, in which Microsoft recently invested $240 million to acquire a small stake; and YouTube, which is owned by Google, to take three examples. Stock market valuations of these companies suggest that investors are bullish on Web 2.0 as well, despite the fact that such early ventures as Friendster, Tripod, Angelfire and...
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