"experts" have been predicting that we are at a peak for a few years now. 

well, as predicted, Xmas put the breaks on things...

@Doug Phillips if your dad isn't an underwriter or loan officer or something I wouldn't put a lot of stock in what he is saying.

There's volatility in the stock market which generally is the first indicator of a recession on the horizon.I am hoping for a mild one, but preparing for a tough one.That said, unlike the early 2000's, many folks gobbling up single family residences have been investors this past decade.

Invest in stocks, index, bonds, CD, Mutual Funds?

This can be stock, partnership interest, or business property.

Stock Market crash or Real Estate Market crash?

We thought we could park this money in something other than stock/mutual funds/whatever market where you don't really end up building much over time. 

However if it were easy to predict bubbles, they would never occur.If you buy right, meaning your portfolio of properties is cash flow positive, and you plan on holding long term...then it doesnt matter if there is a bubble and it bursts, because you will be able to ride it out.  

See the recent article in Fortune.Kyle Bass predicted the crash of 2008 and made big money shorting during this time.What do you think?