SAN FRANCISCO - With memories of the recession and real estate bust of the early 1990s in mind, bankers and analysts are warily monitoring a boom in real estate lending and looking to technology stocks as a possible harbinger of an eventual downturn.

Fueled by the rapid expansion of Internet companies and the stock market wealth they have created, housing and commercial real estate prices in several markets, particularly in California, have been on the rise for the last several years. Bank lenders who specialize in commercial and residential real estate said there are only the slightest hints that the growth is abating.

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