It may not be a bubble after the style of the Florida real estate bubble of the 1920s. However: (1) Given how little equity many "home owners" really have a 10 to 20 percent decline would have a sizeable percentage of them upside down, on fire and unable to sell without coughing up a bunch of cash; (2) A slight up tick in interest rates would push housing afordability down big time [for the consequence see "1"]; (3) Demographics are no longer on the side of the homeowner ... soon enough boomers will want to unload their mini mansions; (4) Fannie and Freddie are both getting some well deserved scrutiny and without piles of new housing credit the housing market is in deep doo doo; and (5) Can't miss investments at some point always miss. :<)
This one little future reality scares the bejesus out of me.
Black Birch - 'shoppers or lurkers?' - LOL. Can't wait to use that - 'no, thanks, just lurking.'