[Porsche-O-Phile]

Housing prices are ridiculously overvalued right now. When this market crashes (and it will) it's going to drag the rest of the economy down with it. It reminds me a LOT of the dot-com boom of the 90s. Those that play it smart and know when to cash out will do fine - others will lose their shirts. I bet in 3-4 years there are a TON of people in places they owe LOTS of money on, far more than the market value, and have virtually zero equity since they've been paying only interest or against the over value.

I saw a piece of **** one story, two bedroom house in Burbank (a total hole) last week for over $600K. Ridiculous.

If anything, I'll get a condo, but I'm not planning on moving for quite some time if I do. Even so, you're lucky to find one for under $350K.