from my sister and ethan, an article on real estate prices predicting that a bubble is about to burst. it's well reasoned and quite convincing; the most compelling snippet from my perspective: "By other measures, too, the market is badly bloated. One index of housing inflation is the difference between house prices and rents. In a healthy market, driven by demand, rents and sale prices ought to track roughly together. But while sale prices have soared, rents have stayed flat; and in some of the most overheated markets, like San Francisco and Seattle, they have actually been declining. Such a gap, the economist and New York Times columnist Paul Krugman has written, suggests ithat people are now buying houses for speculation rather than merely for shelter,' evidence that he called a 'compelling case' for a housing bubble."

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