yup... Jeanette Isabelle brings up a good point that there is a 'bubble' and cites her experience with it and the current state she perceives it to be in.

As for why that should concern our fellow readers -
A fiscal bubble on any level can result in an impact on personal and public services. The "dot com" bubble had a huge impact on jobs, people on a personal level had a 'personal disaster' effect on individuals who then had to cope when it popped.

Following the ideas of being prepared should (and does in my view) go beyond being able to survive the weekend in the woods and include surviving a local disaster - storms etc. that impact us. Such events can cause a loss of shelter and require us to survive on what we've prepared with to accommodate such an event. A housing bubble bursting may cause significant levels of fiscal or personal shelter type of disaster that one will need to fall back on emergency preps to "survive" the impact.

Gathering information and looking for ways to mitigate the impact of such fiscal/social events as a housing bubble bursting should be worth exploring.

In our case we've built up equity and are on track to have our housing paid in full in a few years - a bubble burst on housing will reduce the value of one of our largest personal possessions which would alter our ongoing living arrangements and to an unknown degree. If the "bank" called the loan due next month we would have to sell... thus the concern.

Edit to add: To answer her question, our area seems to be stable and the values of the homes in our specific neighborhood are only up a bit over the last ten years - the newer homes just west of here however have jumped in price a lot and the brand new construction is way higher only a few blocks away.