Daniel,
Your question brings up more questions than I can answer in this post, but I will try to be brief.
What are your goals? I looked into my crystal ball and this is what I see. (You can buy your own crystal ball at Walmart.)
What I have seen in the past 35 years from the previous bubbles are this.
1. Warm body loans. When everybody and anybody can get a loan, its time to sell.
2. When interest rates begin to rise sharply, 2106? it may be time to sell? (Check crystal ball on this one since I once paid 14% percent for interest on my primary and was happy to get it.)
3. When people start to lose their jobs, its time to sell!
If you can predict any or all of these then you are a guru. I do both "buy and hold" and "flip properties." My long term holds are over 10 years plus and I do flips for some quick cash.
I hope this helps.
