Time for Some Sanity

I know it probably reads as though I'm desperately trying to dissuade the entire populace that a real, live real estate bubble is upon us, but thanks to Shawn Tully of Fortune Magazine/CNNMoney, a portrait of clarity does exist on this bubble madness. The following excerpt is probably one of the more important & leased disclosed statement ever regarding the so-called bubble:

"In either case, many individual homeowners have nothing to worry about:
They can simply stay put and ride out the cycle. The only thing they'll lose
is
the opportunity to brag about their paper profits. And in some places,
appreciation has been so sharp that a seller could see prices plunge 30
percent
and still make a hefty gain.

The real losers will be those
who bought recently at inflated prices and
are forced to sell, usually
because they're taking a job in another city or
can't make the payments when
their adjustable mortgage rate jumps. And
speculators who bought overpriced
condos in hope of a quick killing are going to
get hosed."