[Richard Kimball]

Good article. It's going to be a fairly big correction. Personally, I thought the bubble was about to burst when all the shows like "Flip this House" came out. Whenever a trend gets big enough that the general public starts getting involved, it's not a good deal anymore.

I was reading where speculators were a significant portion of the California housing market, and I figured once they got out, the market would correct to reasonable levels. Depending on how much it affects other markets, it could be a chance for people to get into houses at good prices. I went through a local boom bust in Austin in the eighties, and some guys I knew ended up trying to rent out a house they were paying $1200 a month on for $650 just to keep from having it foreclosed. It's going to be an interesting ride.

[Wilhelm Tell]

Personally, I thought the bubble was about to burst when all the shows like "Flip this House" came out.

That is a sure sign. I knew some years ago when the news had many stories about day traders that a lot of people were buying high who would have to sell low soon.

[RockinRight]

Except that if such a drop occurs, I'll probably be jobless. Or making half what I used to giving me no benefit as far as lower prices.

(I am a mortgage loan officer)