This is some the best mainstream media Housing Bubble coverage I’ve seen and it spells things out pretty clearly. If you aren’t sure what exactly is going on this is a pretty good 15 minute overview of the current situation.
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I'm a 27 year old self-proclaimed geek. I have a B.S. in Computer Science and I work with web technologies and databases on a daily basis. My geekiness extends into computers, photography, sound, video games, music, movies, politics, firearms and economics.