Los Angeles has gone housing market crazy.

[Mike R.]

I have been renting a house for the past 7 years in LA and now sadly the family wants to move back in. I figured it's time to buy my own place, especially with rents so high, but timing couldn't be worse. Every home has 15 offers and I have gone $30 to $40k over asking yet still have lost 6 so far. 

Bubble? 

Buying isn't happening right now. 

Anyone else experiencing this?