A friend of mine wrote me this...

You gotta watch out for the housing bubble. The real estate problem is definetely coming. It happened in Houston a few years back and it is going to happen in the south soon. Real Estate prices are simply over inflated and when the value starts to drop a lot of people are going to have a $250,000 dollar mortgage on a house worth $150,000. Of course when people start walking away if you have cash you may be able to buy out right from the banks for a cheap price.

Anyone hear of this or have concerns about it?