The Housing Bubble

I found this blog linked to a story on MSNBC about the housing market. It's a completely fascinating assessment of the current housing market. We bought our townhome in 2002 for $170K. Things are regularly listing and going in our neighborhood for $330-350K. I don't think we would necessarily be that hurt by a likely market correction (I think $270-300K is more realistic for our house, which means we are still up), I know a good number of new buyers and recent sellers in our neighborhood who would quickly be upside down. It's scary what that could potentially mean for the national economy.