OK, I've been off on vacation for a while, but I am back onto my current favorite subject- the real estate bubble- this extremely informative article aslo has links to others, like the pmi reisk index, and some other stuff, and suggests that the peak may have been reached in some cities. Aso a number of indicators that can help to evaluate the state of the bubble.
Do Try This at Home: Assess Your Area's Real Estate Bubble - New York Times