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The U.S. also might learn from the Los Angeles housing bust of the early 1990s.

Can we learn from the British? A new article from the AP draws a parallel between the UK housing market in 2004 and the US market in 2005:

As in the United States, British housing prices began a big ascent in the late 1990s, and the gains were dramatic. But after peaking last summer, the market has cooled largely …

I've been telling friends they should purchase real estate if they can survive a 20-30% drop in prices for 4-5 years. Unlikey, but that's what happened in L.A.

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Read more from this blogger: U.S. may learn from U.K. housing boom, bust.

News on the Sarasota market, including prices that exclude low-income buyers from the market.

Sarasota will have the 4th Community Housing Trust in Florida. We may think we are slow to move but in many ways Sarasota is at the forefront of many issues...

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Read more from this blogger: Community Housing Trust for Sarasota County

Here's a blogger who has no debt! I didn't know that existed in the U.S.

Individuals need to realistically look at their debt commitment. By having high debt payments and a low emergency fund, individuals will face financial difficulties were there to be an illness or loss of job.

I’m so glad that 0% of my income goes toward debit! :D I’m so good.

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Read more from this blogger: Food

In a hot housing market, getting pre-qualified by a lender makes it easier to close a deal.

Compare the mortgage terms and interest rates offered by various mortgage lenders. Even a slight difference in your interest rate can add up to thousands of dollars over the length of your mortgage. A pre-approval from the lender of your choice will not only give you added confidence when shopping for a new home, but could give you added leverage when bargaining with the seller. A pre-approval will let you know the exact amount you are approved for and will save you time after your offer has been accepted by the seller.

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Read more from this blogger: Important Facts For Home Buyers

I'm surprised that some realtors don't advertise the price of a home these day, just the down payment and interest-only loan payments.

If you are buying a home, know the home’s price and how much you plan on putting down. Most mortgage lenders require at least 10% for people with poor credit, but 20% down will help you avoid private mortgage insurance, saving you hundreds a year.

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Read more from this blogger: Home Loans For People With Bad Credit - Tips To Getting Approved Online

The laws of supply and demand at work:

Skyrocketing housing prices are driving people from San Francisco, Boston and other big cities. Warm weather and more affordable living are behind the rapid growth in midsize cities in Florida, Arizona, Nevada and California. Census Bureau figures show no letup in the migration to the South and West, which are home to all 10 of the fastest-growing cities with at least 100,000 people. Older, industrial cities in the Northeast and Midwest continued to lose residents. Among them were Detroit, Pittsburgh, Cincinnati and Cleveland.

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Read more from this blogger: Americans Migrate to Cities in South, West