Inflation is startign to heat up. Except in extremely overvalued markets where price appreciation has been off the charts most markets will be flat or experience a modest decline.
It won't be a collapse like when the .com bubble burst though the press will treat it as such.
Has anyone noticed that the realestate markets where pricing has taken complete leave of its moorings are always liberal bastions ?
Yep, and I'm dead square in the middle of one of them. It has a lot to do with liberal land use policy. They limit the supply yet demand stays high. Prices skyrocket. Also, they get more in taxes from corporate land than they pay out. So they allow way more businesses to locate than the housing market can accommodate. Jobs need people - people need houses - houses are not there - prices go WAY up...