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Updated over 15 years ago,
What Housing Bust?
Having moved from Las Vegas to Portland, OR in 2002 I was very lucky .... didn't sell at the peak in Vegas but still had a nice gain and got out before prices reset to 1995. I've benefited from the tremendous run-up in Portland prices. Even with a 10-15% drop during the last year, Portland is one of those lucky places that's still waaaaaaaay up .... this article highlights those areas that have held up during the last three years:
http://money.cnn.com/2009/10/21/real_estate/what_housing_bust/