Probably not nationwide, but things like this worry me: (NY Times)
Premonitions of a bubble on the verge of popping do not ruffle those who are bullish on real estate. In Miami, Ron Shuffield, president of Esslinger-Wooten-Maxwell Realtors, predicted that a limited supply of land coupled with demand from baby boomers and foreigners would prolong the boom indefinitely.
"South Florida," he said, "is working off of a totally new economic model than any of us have ever experienced in the past."
Oh dear.
And on the radio news (the news, mind you) was a one line quote from some broker or banker (I forget which) who said that with interest rates rising it might be time to look into an adjustable rate mortgage.
Penny wise and pound foolish. What are these people thinking?
Your comments on bubbles' troubles are quite insightful.