Is the Housing Market for real or is it just a large conspiracy designed to defraud investors and separate the average American from their hard earned savings? I guess that depends on who is left holding the bag at the end of this giant game of hot potato.
Actually, it's more like a giant Ponzi scheme as Tim points out over on his descriptively titled blog The Mess That Greenspan Made.
So, instead of there being no real business to generate profits in a true Ponzi scheme, it is a question of how "unnatural" the rapid rise in home prices is today.
Read his post and consider where you fit in this game of investor led fraud.