Seems to be fueled by emotion.I was actually watching the PBS show Nova the other night and they explored the issue of emotion and the role it plays in determining market prices and how this manifested itself in the current financial crises.

When you add in to that the fact that for EVERY city owned home, they've got a full manifest of EVERY repair that needs to be done, based on a full inspection by a city inspector, that means that to get an occupancy permit, that stuff all has to be fixed, fixed 100% correctly AND by a properly licensed contractor, which means a master plumber/electrician for those fixes and that adds up REAL quickly! 

Interesting question...I think there are three main components that are required;Knowledge of or the afforded presumption of knowledge of the ability to manifest a desired outcome.A desire to communicate ones knowledge.A participant willing to receive that knowledge.Almost sounds like the components required of a mentor mentee relationship.Most get caught up negatively labeling the Guru status due to the hype factor and dream factor of both participants.Two components that when put together by unscrupulous individuals can cause disaster.There are some very good Gurus out there and then there are some that aren't so great.

That's a manifestation of marketing.That said they're the best list provider.

Its not a representation of their good deed its a manifestation of my good deeds.

Some of the biggest mistakes can be manifested in some of the smallest forms.

I'm sure there is a lot going on behind the scenes now that will manifest in ways that few can see today. 

Greed doesn’t have to be manifested in distasteful manner to be greed. 

If you are afraid of failing and the loss of money is a quantification of the thing you so fear, then that is a life outlook issue and it simply manifests itself in REI.

Bottom line, I don't think the biggest risk to housing prices right now lies within the housing sector; if they crash in the next several years or so my guess is that it will be due to a bubble somewhere else in the economy.One final thought:  the sub-prime mess originated under Clinton when he and his congress eased regulations on mortgage lending in/around 1999; it took eight years for the subsequent crash to manifest.