Pretty durned funny! This looks a lot like the 1998-99 battles over the dotcoms and tech. The shorts ruled for a few months, when we could shake confidence from someone. I disagree about the housing market popping, because it is based on tangible assets and not future options. It is neat to see the same techniques applied by people looking to "short" real estate. The gloss is gone from REITS, but there is still some sub-prime opportunity. Good luck.
http://www.businessweek.com/magazine/content/06_17/b3981065.htm