Mr. Rational Exhuberance, Alan Greenspan, who's words essentially converted like a master alchemist the NASDAQ to the NASDOG is at it again. His target this time? The housing market:

"When Federal Reserve Chairman Alan Greenspan told Congress on June 9 that "the apparent froth in housing markets may have spilled over into mortgage markets,"

This one alarmed me...
Seattle-Bellevue-Everett 37.2%

It seems to me that alot of speculative investors are in these markets. I assume after the market cools in these areas, and it simply has to, we can jump in.

"Speculation changes the normal market," says John H. Vogel, professor at the Tuck School of Business at Dartmouth College. "People are buying a half-million-dollar house not because they have the salaries to support it, but because they think next year it's going to be worth $600,000."

So does this mean we're headed for a crash? That's difficult to predict. In 2002, we dubbed the housing market a bubble and predicted its fall. Since then, home prices have gone up about 32%, according to the National Association of Realtors.

But that doesn't mean a bust is not on the horizon -- at least in some places. Greenspan used the phrase "irrational exuberance" to refer to tech stocks in 1996; it took another three years for the market to tank. And when it did, it hurt."

-- Sara Clemence

The real question is, as a pure investment, where would you put 10,000 right now? What about $1000?