Housing Bubble Tidal Waves?

I thought the worst was over. After seeing housing bubble articles everywhere a month or so ago - on the front page of national news magazines, article after article in the newpapers, and discussions on all major tv news shows, I thought we had gotten it out of our system. I thought the wave had crested or the bubble had reached maximum size, and we were now on the way down.

I was wrong. Today's Wall Street has at least 4 articles on the real estate market (and I am not even through reading it). It is funny how the tidal waves of coverage on this topic keep coming and coming. I used to devour this stuff and now I just scan it.

However, the news does not look good. Interest rates are rising, the increases in home prices are slowing donw, oil prices are sky high, and inflation seems to be creeping up - seems like all the ingredients for a perfect storm. All we need is a terrorist attack on US soil to serve as a catalyst to really push things over the edge. Once again, I am scared.

On a lighter note, I loved the creativity of the folks who came up with the "Mr. Housing Bubble" t-shirt. Link is:

http://www.t-shirthumor.com/Merchant2/merchant.mvc?Screen=PROD&Product_Code=hbbl&Category_Code=newr