It could be at a top but the eminent "collapse" that the word bubble evokes is unnecessary.

What happens next year if China cannot keep up the Kabuki Theater and their Real Estate Bubble explodes like none other in the history of the world and the banking system worldwide collapses?

Alan Greenspan gave the Irrational Exuberance speech years before the dot com collapse.  

We may be facing another real estate collapse that could virtually wipe out your equity by the time it is needed.

The single wide industry collapsed about 15 years ago because financing dissapeared.

(literally the reason you asked this question)@Nathan G. said it best really, you want to protect yourself to weather the storm, it won't last forever.I find it quite unlikely the national RE market will collapse like in 2008, so shorting the whole RE market seems less effective.

Normally they come out of the seller's pocket, but it has to be agreed in advance - or the closing will collapse.

Rents rose during the housing collapse, significantly in many locations.

There are 5 base models you can choose from if you don't want the hassle of designing your own home with architects, especially since most of my ideal buyers won't speak Spanish, and the owners of this property have a contracting company that buyers can use, which we recommend as the main contractor is European and has built castles by hand, as opposed to the Ecuadorean contractors who build homes that collapse in 10 years. 

Trying to put together my fears of another economic collapse like 2008 and how it would affect my aggressive investing strategy right nowRisks:- massive loss of jobs and therefore possible loss of rental income- government cutbacks of sec 8 housing and welfare- lenders (hard money and refinance) not lending - Appraisals coming in way low for fear of appraisers losing their licenses- overall decline in housing pricesPersonally I think this would be a pro as there would be more deals out there, and long as there are lenders