It's Not a Bubble Until It Bursts - Yahoo! News
I wonder if all the press chatter about the bubble bursting is going to make it happen.

Prominent policymakers and academics, including Federal Reserve Chairman Alan Greenspan, have recently warned about bubbles in regional markets. A recent nationwide Gallup/Experian poll of consumers showed that nearly four in 10 said they expected a bubble to burst in their region in the next three years. Across America, water cooler or cocktail party conversations often include talk about those who have made a killing in real estate, and whether it's now too late to get in on the action. However, none of the experts or novices knows for sure when and how a bubble might burst. Bubbles throughout history, including tech stocks in the late 1990s, often go on for years, and crash when few expect it. Many experts and media pundits have been predicting a downturn for the last three years — and home prices have continued to rise, up nearly 70% since 2001 in the hot Southern California market.