This is a very timely post. Yesterday WCBS News reported that Alan Greenspan saw no end in sight for the hot real estate market, and that in his opinion there is no bubble. Last month housing sales in the Northeast approached a 20% increase. I remember the 1980's when mortgages in Connecticut were averaging 12% to 14%. It did not slow down a market driven by the desire for property ownership. I think it is going to be a while before there is a slow down. Right now real estate is a much safer investment for investment purposes than the stock market. In this area real estate is appreciating in value at a current rate of 8% to 10% per year. In other areas such as New York and New Jersey I have been told that the rate of appreciation is even greater. I heard one news cast in which they said that it is almost impossible to buy a condominium in New York City for less than $1,000,000.00.